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Bitcoin (BTC) Tumbles Below $26.5K

Altszn.com by Altszn.com
August 18, 2023
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Bitcoin (BTC) Tumbles Below .5K
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Bitcoin (BTC) has dropped 7% over the past 24 hours, plunging to levels not seen since June as the digital-asset market witnessed one of the worst sell-offs this year. Crypto traders were hit with $1 billion worth of liquidations over the past 24 hours, according to Coinglass data. The world’s largest cryptocurrency by market value was trading at around $26,400 at the time of writing, but briefly fell to $25,234 on Thursday. Altcoins performed slightly better with ether (ETH) losing 6% over the same time period and Solana’s SOL losing around 5%. Traders say market structure and liquidations were a likely reason for the sudden drop instead of a singular fundamental catalyst. “We’ve seen BTC OI ramp up in position, with a bias to shorts,” said Decentral Park Capital trader Lewis Harland, in a message to CoinDesk. “The break below $28,500 led to material volumes of longs being liquidated. This has been combined with spot selling ahead of the date (likely anticipating further delays).”

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    • bitcoinBitcoin (BTC) $ 101,515.00
    • ethereumEthereum (ETH) $ 2,248.02
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 1.99
    • bnbBNB (BNB) $ 618.90
    • solanaSolana (SOL) $ 133.85
    • usd-coinUSDC (USDC) $ 0.999800
    • tronTRON (TRX) $ 0.266541
    • dogecoinDogecoin (DOGE) $ 0.152005
    • staked-etherLido Staked Ether (STETH) $ 2,247.07
    • cardanoCardano (ADA) $ 0.542722
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 101,495.00
    • hyperliquidHyperliquid (HYPE) $ 35.19
    • wrapped-stethWrapped stETH (WSTETH) $ 2,707.64
    • bitcoin-cashBitcoin Cash (BCH) $ 452.79
    • suiSui (SUI) $ 2.50
    • leo-tokenLEO Token (LEO) $ 9.06
    • chainlinkChainlink (LINK) $ 11.81
    • stellarStellar (XLM) $ 0.229945
    • avalanche-2Avalanche (AVAX) $ 16.90
    • usdsUSDS (USDS) $ 0.999644
    • whitebitWhiteBIT Coin (WBT) $ 47.75
    • the-open-networkToncoin (TON) $ 2.76
    • shiba-inuShiba Inu (SHIB) $ 0.000011
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999985
    • litecoinLitecoin (LTC) $ 80.92
    • wethWETH (WETH) $ 2,247.75
    • wrapped-eethWrapped eETH (WEETH) $ 2,404.00
    • hedera-hashgraphHedera (HBAR) $ 0.135822
    • moneroMonero (XMR) $ 303.58
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • polkadotPolkadot (DOT) $ 3.19
    • bitget-tokenBitget Token (BGB) $ 4.04
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 101,487.00
    • pi-networkPi Network (PI) $ 0.503636
    • uniswapUniswap (UNI) $ 6.26
    • pepePepe (PEPE) $ 0.000009
    • daiDai (DAI) $ 0.999707
    • aaveAave (AAVE) $ 230.24
    • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
    • okbOKB (OKB) $ 50.38
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • bittensorBittensor (TAO) $ 308.23
    • aptosAptos (APT) $ 3.99
    • susdssUSDS (SUSDS) $ 1.06
    • crypto-com-chainCronos (CRO) $ 0.079752
    • internet-computerInternet Computer (ICP) $ 4.54
    • jito-staked-solJito Staked SOL (JITOSOL) $ 162.20
    • ethereum-classicEthereum Classic (ETC) $ 15.36
    • nearNEAR Protocol (NEAR) $ 1.91
    • bitcoinBitcoin (BTC) $ 101,515.00
    • ethereumEthereum (ETH) $ 2,248.02
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 1.99
    • bnbBNB (BNB) $ 618.90
    • solanaSolana (SOL) $ 133.85
    • usd-coinUSDC (USDC) $ 0.999800
    • tronTRON (TRX) $ 0.266541
    • dogecoinDogecoin (DOGE) $ 0.152005
    • staked-etherLido Staked Ether (STETH) $ 2,247.07
    • cardanoCardano (ADA) $ 0.542722
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 101,495.00
    • hyperliquidHyperliquid (HYPE) $ 35.19
    • wrapped-stethWrapped stETH (WSTETH) $ 2,707.64
    • bitcoin-cashBitcoin Cash (BCH) $ 452.79
    • suiSui (SUI) $ 2.50
    • leo-tokenLEO Token (LEO) $ 9.06
    • chainlinkChainlink (LINK) $ 11.81
    • stellarStellar (XLM) $ 0.229945
    • avalanche-2Avalanche (AVAX) $ 16.90
    • usdsUSDS (USDS) $ 0.999644
    • whitebitWhiteBIT Coin (WBT) $ 47.75
    • the-open-networkToncoin (TON) $ 2.76
    • shiba-inuShiba Inu (SHIB) $ 0.000011
    • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999985
    • litecoinLitecoin (LTC) $ 80.92
    • wethWETH (WETH) $ 2,247.75
    • wrapped-eethWrapped eETH (WEETH) $ 2,404.00
    • hedera-hashgraphHedera (HBAR) $ 0.135822
    • moneroMonero (XMR) $ 303.58
    • ethena-usdeEthena USDe (USDE) $ 1.00
    • polkadotPolkadot (DOT) $ 3.19
    • bitget-tokenBitget Token (BGB) $ 4.04
    • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 101,487.00
    • pi-networkPi Network (PI) $ 0.503636
    • uniswapUniswap (UNI) $ 6.26
    • pepePepe (PEPE) $ 0.000009
    • daiDai (DAI) $ 0.999707
    • aaveAave (AAVE) $ 230.24
    • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
    • okbOKB (OKB) $ 50.38
    • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
    • bittensorBittensor (TAO) $ 308.23
    • aptosAptos (APT) $ 3.99
    • susdssUSDS (SUSDS) $ 1.06
    • crypto-com-chainCronos (CRO) $ 0.079752
    • internet-computerInternet Computer (ICP) $ 4.54
    • jito-staked-solJito Staked SOL (JITOSOL) $ 162.20
    • ethereum-classicEthereum Classic (ETC) $ 15.36
    • nearNEAR Protocol (NEAR) $ 1.91