Cryptocurrency sell-offs continued through Tuesday morning, with drawdowns waning after the sector’s “Black Monday” saw over $1 billion in crypto derivatives liquidated over a 24 hour period according to data from Coinglass. Overall, the total crypto market cap has lost more than two-thirds of its value since peaking in November, according to Coinmarketcap, falling from $3 trillion at its apex to $952 billion as of Tuesday 11 am New York time. After briefly dipping to $20,950 per unit… Source link
Read More »Bitcoin Drops Below $31K Before Rebounding; $8B in Liquidations Triggered
Bitcoin tumbled for a fifth-straight day, putting the largest cryptocurrency on track for its worst month in more than three years and leading a full-flown retreat from digital-asset markets. At press time, bitcoin (BTC) was changing hands at around $38,500, after dropping below $31,000 earlier Wednesday. The price was down 9.8% since 0:00 coordinated universal time (8 p.m. ET Tuesday). As recently as April, the price had hit an all-time high of close to $65,000. The latest crash shook out… Source link
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