Sleepless In Crypto: $900-M Liquidated Amid Bitcoin’s Steep Fall

A significant plunge in the crypto market has sent shockwaves across the industry over the last 24 hours, leaving a trail of liquidations in its ￰0￱ 200,000 traders were forced out of their positions as Bitcoin plunged to a seven-week low, wiping out more than $900 million in liquidations over a single ￰1￱ Reading: Bitcoin Rally Slowed By Old-School Whales, Analyst Warns According to CoinGlass, most of those losses came from long bets that could not weather the ￰2￱ Hit Retail Traders Reports have disclosed that a single large sale helped set off the ￰3￱ pressure intensified as a large holder offloaded 24,000 BTC, triggering a wave of liquidations, said Rachael Lucas, a crypto analyst at BTC ￰4￱ Coinbase, Bitcoin briefly fell below $109,000 — its weakest level since July ￰5￱ participants felt the shock fast; traders who were long were the ones most ￰6￱ Signals And Market Reaction A recent hint from Federal Reserve Chair Jerome Powell at Jackson Hole about potential interest rate cuts changed how some investors priced ￰7￱ August 14, when Bitcoin reached an all-time high just over $124,000, the asset has corrected by over 10%.

Based on data, the drop since Powell’s speech is about 7%. The single-day move was measured at close to 3% decline for Bitcoin, and total crypto market value slipped back below $4 trillion to about $3.83 trillion as almost $200 billion flowed out of the ￰8￱ Is Holding Up Ether traded near $4,340 and, for now, looks steadier than ￰9￱ did fall, but it did not breach last week’s ￰10￱ interest in Ether remains a talking ￰11￱ to Lucas, institutions continue to focus on Ethereum, even as traders reassess risk across smaller ￰12￱ Reading: Solana Extends Streak, Outshines Ethereum in DEX Volume – Details Altcoins Took Bigger Hits Many smaller tokens fell harder than the majors.

Solana, Dogecoin, Cardano, Chainlink, and Sui were among the worst ￰13￱ pushed losses beyond the headline Bitcoin numbers and left traders in altcoin-heavy positions nursing larger ￰14￱ weekend liquidity served to enhance the price gyrations, making the action more extreme than it would have been on a more active trading day. September’s Track Record And Outlook There is also a historical component to the ￰15￱ has a history of strong pullbacks in bull markets, with strong corrections in 2017 and ￰16￱ image from Meta, chart from TradingView