Markets
Bitcoin Falls Toward $67,000, But These Coins Are Worse (Market Watch)
The cryptocurrency market continues to decline after the crash at the end of last week. The total capitalization was reduced below $2.6 trillion due to significant losses in Bitcoin and most altcoins.
Bitcoin price falls towards $67,000
At the time of writing, BTC is trading at around $67,500, having plunged to around $67,200 on Binance. The move depicts a 2.7% decline over the past 24 hours.
Data from popular analytical resource Coinglass shows that total liquidations over the past 24 hours amount to approximately $170 million. As expected, most of these are long positions. In fact, over 92% of all positions on major derivatives platforms are long. Binance leads with around $65 million in total liquidations, followed by OKX and Huobi.
Some Altcoins have it worse
Many large-cap altcoins are seeing steeper declines than Bitcoin. As the chart below shows, SOL is down 3.6%, SHIB is down 3.6%, ETH is down 3.7%, PEPE is down 3.8%, TON is down 3%, BNB is down 5%, And so on.
As CryptoPotato reported earlier, meme coins are also undergoing a bloodbath. Coins like PEOPLE, PONKE, BRETT, DOGE, FLOKI, SHIB and others – are all trading well in the red.
It is interesting to see if this is a short-term correction or if the decline will continue through the remainder of the summer months.
Meanwhile, today’s top performer is Injective (INJ), which rose 10%. This follows an enhanced tokenomics announcement that took place a few days ago.
The popular TON-based coin, Notcoin (NOT), has plunged the most in the top 100. NOT is down 14.7% in the last 24 hours. Wormhole and BRETT follow with respective declines of 11.6% and 9.4%.
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Cryptocurrency Charts by TradingView.