The post Crypto market witnesses 270.4M selloff in the form of liquidations appeared on BitcoinEthereumNews.com.

Bitcoin, the largest cryptocurrency by market cap, showed a downward trajectory very recently. Ethereum also showed a similar trend, and the selloff resulted in around $270.4 million liquidation. Binance is the top crypto exchange that featured $99.7 million in total liquidations, and the GMCI 30 was also down. Markets are moving forward to Wednesday’s macroeconomic releases: the consumer price index and fiscal policy announcement of the Federal Reserve. According to prominent cryptocurrency market experts, Bitcoin is more interrelated with risk assets. The recent cryptocurrency marketplace trend paved the way for a massive liquidation spike. It is a fact that the continuing cryptocurrency market selloff has a huge impact on the global community. Cryptocurrency traders of today witness significant losses as the market is on a downward trajectory. The liquidation spike reaffirms the volatility and risk associated with conventional crypto investments. The recent trend underscores the importance of a thoughtful cryptocurrency investment approach in 2024. Cryptocurrency traders are skeptical about the stability of digital assets as the news about crypto market selloff broke out. The current trend clearly indicates the risks and volatility associated with cryptocurrency investments. The impact of the crypto market selloff on the international economy reflects the interconnectedness of fiscal marketplaces. Bitcoin showed remarkable market volatility and market experts are actively monitoring the resistance of cryptocurrency. The industry-leading cryptocurrency declined 3.5% over the past day, and Ethereum dropped by 4.6%. Most of these liquidations, amounting to $270.4 million, were from long positions. Binance scaled new heights of business skyline as the top crypto exchange for these liquidations. The recent market trend comes at a crucial time when investors embrace noteworthy macroeconomic updates. The consumer price index and Federal Reserve fiscal policy announcement will provide actionable insights into the thriving cryptocurrency market. The ultimate focus of these two reports…

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Filed under: News - @ June 12, 2024 11:20 am