tl;dr
After a quiet weekend with BTC around $105,000, its price dropped to a weekly low of under $100,000. Altcoins like DOGE, XRP, ADA, and SOL also experienced significant declines. BTC's 5% daily drop pushed its market cap below $2 trillion, while ETH dropped 7% to $3,100. The total value of wrecked po...
After a quiet weekend with BTC around $105,000, its price dropped to a weekly low of under $100,000. Altcoins like DOGE, XRP, ADA, and SOL also experienced significant declines. BTC's 5% daily drop pushed its market cap below $2 trillion, while ETH dropped 7% to $3,100. The total value of wrecked positions surged above $600 million, with nearly 230,000 traders liquidated. Source: TradingView, CoinGlass.
After the quiet weekend, in which BTC stood primarily around $105,000, the asset’s price movements have turned sour, and it slumped to a weekly low of under $100,000. The altcoins have bled out even more heavily, with massive price declines from the likes of DOGE, XRP, ADA, SOL, and many others. BTCUSD. Source: TradingView
Similar to the previous Monday, this one has started quite painfully for the crypto market. As reported over the weekend, bitcoin had calmed at around $105,000 with little to no movements over a 36-hour period. However, the Monday morning Asian trading session began with a nosedive that pushed the largest digital asset from its aforementioned level to a weekly low (for now) of $99,700. This 5% daily drop has harmed the cryptocurrency’s market cap, which has plunged below the coveted $2 trillion mark. The altcoins have felt even more substantial pain within the same period. ETH, which challenged $3,400 a few days ago, has dropped by 7% in a day to $3,100. XRP has slumped below $3 for the first time in a few weeks, BNB is down to $650, ADA has plunged to $0.9, and LINK is at $23. More substantial declines come from the likes of SOL, DOGE, SUI, PEPE, HBAR, SHIB, LTC, APT, AAVE, and others, as all of them are with double-digit losses. CoinGlass’ data paints a violent picture of the aforementioned volatility. The total value of wrecked positions has shot up to well above $600 million on a daily scale and $560 million within the past 12 hours alone. Nearly 230,000 traders have been liquidated, while the largest single wrecked position is a whopping one of $98.46 million. It took place on HTX and involved the BTC/USDT pair. Liquidation Heat Map. Source: CoinGlass