tl;dr
Bitcoin's price fell below $67,000, leading to significant liquidations in the cryptocurrency market. It also saw the largest three-day drop in non-empty wallets since March 14th. Meanwhile, Ethereum wallet numbers continue to rise, reflecting bullish sentiment among investors. The quarter has been ...
Bitcoin's price fell below $67,000, leading to significant liquidations in the cryptocurrency market. It also saw the largest three-day drop in non-empty wallets since March 14th. Meanwhile, Ethereum wallet numbers continue to rise, reflecting bullish sentiment among investors.
The quarter has been low in volume, with traders liquidating holdings due to concerns about further price drops. Bitcoin is down 3.24% in the last seven days and up 147.65% since last June, while Ethereum has dropped 2.95% in the last week and risen 100% compared to last June.
Over $480.97 million was liquidated in the past 24 hours, with $283.82 million liquidated in the past 12 hours and a substantial $189.14 million lost in the last four hours.
- Bitcoin failed to hold above $67,000, triggering significant liquidations in the market.
- BTC also witnessed the biggest 3-day drop in non-empty wallets since March 14th.
- Ethereum wallet numbers continue to keep rising as per Santiment.
Bitcoin’s price tumbled below $67,000 in the past 24 hours, triggering a wave of liquidations across the cryptocurrency market. Blockchain analytics platform Santiment noted on X (formerly Twitter) that Bitcoin has experienced its most significant three-day decline in non-empty wallets since before the asset’s all-time high of $73,000 on March 14.
Santiment suggests that traders, concerned about potential further price drops, have been liquidating their holdings, contributing to the cryptocurrency’s sluggish performance during the second quarter. X user Irvine Madula pointed out on X that this has been a low volume quarter, emphasizing that “3rd and 4th quarter are where the magic is.”
Conversely, Santiment also confirmed that Ethereum wallets continue to increase in number, reflecting investors’ bullish sentiment, stating: “Unlike then, BTC has been sliding, provoking traders to liquidate for fear of further drops. Meanwhile, Ethereum wallets keep growing in number.”
CoinMarketCap data shows Bitcoin down 3.24% in the last seven days but up 147.65% since June last year, while Ethereum has dropped 2.95% and underperformed compared to Bitcoin since June last year, rising by 100%. Furthermore, Coinglass data indicates over $480.97 million was liquidated in the past 24 hours, with $283.82 million liquidated in the past 12 hours. Traders lost a substantial $189.14 million in just the past four hours.