Monday’s carnage continues as the underlying cryptocurrency falls below $60,000 for the first time in nearly two months.
Altcoins are in dire straits as well, with several double-digit price losers, as well as several others down 5-10%.
CryptoPotato Earlier today I reported on a negative start to the trading week for Bitcoin and the rest of the cryptocurrency market.
At that time, the largest digital asset lost more than two thousand within hours and fell to a 6-week low of $62,100.
However, the situation worsened in the following hours and the cryptocurrency fell below $60,000 for the first time since the beginning of May.
As of now, BTC has managed to rebound to just above this level, but its market capitalization has fallen below $1.2 trillion. This is because Bitcoin has fallen by 6% in the past day and more than 8% on a weekly scale.
The biggest losers in the altcoin space come from the likes of GNO (-11%), BRETT (-11%), UNI (-9.5%), BCH (-8%), MRK (-8%), and many others. Others.
The total value of the liquidated positions it has rose To more than $320 million on a daily scale. The number of traders crashed during the same time frame is north of 85,000.
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