Crypto downturn sees BTC touch $58k;Bitcoin Dogs fluctuates
The post Crypto downturn sees BTC touch $58k;Bitcoin Dogs fluctuates appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) touched lows near $58k as cryptocurrencies witnessed a sharp sell-off. 0DOG token tumbled amid Bitcoin’s losses. Bitcoin dived more than 6% in the past 24 hours to trade near $58,000. The crypto market capitalization also tumbled as a sea of red engulfed altcoins Major altcoins saw huge declines to push the total market cap down more than 7% to $2.16 trillion. Meanwhile, Bitcoin Dogs fell sharply as Ethereum, Solana, Pepe, and Polygon nosedived. Bitcoin slumps amid huge liquidations BTC briefly traded at lows of $58,090 on Bitstamp and $58,025 on Coinbase on Wednesday morning before a slight recovery pushed it to above $59.2k. While there hasn’t been a clear catalyst for the crypto sell-off, the widespread losses suggest a broader weakness for risk assets. Santiment analysis also suggests the latest retracement follows huge bets on upside momentum. The greed that hit the market on August 25 has seen a swift reaction in liquidations, the market intelligence and on-chain analytics platform wrote on X. Data from Coinglass shows total crypto liquidations have jumped 208% in the past 24 hours to over $330 million. Most of this, about $295 million, are long positions and over 90,800 traders have been liquidated in this period as a result. The largest liquidation is an ETH/BTC position at $12.67 million on Binance. Bitcoin Dogs mirrors BTC sell-off While Ethereum has dropped more than 9% to under 2,450, Solana is changing hands near $144. Polygon, Pepe and Sui have shed double digits. Bitcoin Dogs, a cryptocurrency that recently launched on major exchanges Gate.io, MEXC and Uniswap, is also mirroring the downside action. 🚀 #0DOG is officially LIVE on @Gate_io, @MEXC_Official AND @unisat_wallet!🔥 Dive into the WORLD’S FIRST #Bitcoin ICO! 🐶 Don’t miss out & start trading now! Green candles only!✅📈 🐶Claim: https://t.co/CaBBFJhbYE 🔗 Gate: https://t.co/v7nOxQRJYm🔗…
Filed under: News - @ August 28, 2024 9:22 am