The primary cryptocurrency’s price dropped again, this time dropping from $35,000 to $33,000. Over-leveraged traders felt more pain after the price dropped to its six-month low.
CryptoPotato reported that bitcoin was trying to keep above $35,000 following yesterday’s failure to reach $36,000. However, bitcoin quickly lost the battle and plunged by $2,000 to its lowest level since late July at $33,000. BTC rebounded to $34,000 just minutes later. After surpassing $2,500 yesterday, Ethereum is now at $2,250. Binance Coin and other alts have also dropped to double-digit percentages. Coinglass data indicates that liquidations have jumped to more than $100 million in the hour since BTC’s most recent dump. The liquidations have a value of nearly $200 million on a 4-hour basis, with Bitmex’s largest liquidation order worth $6 million.
BTCUSD. Source: TradingViewIt is worth noting that bitcoin traded at $43,000 on Thursday. This means that bitcoin has lost more than $10,000 (23%) in just four days.
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