Markets • August 17, 2023, 6:28PM EDT
Published 1 minute earlier on
Quick Take
- The price of bitcoin and ether dropped sharply in minutes today as the crypto market finally saw a significant move.
The price of bitcoin dropped sharply in minutes, falling as low as $25,166 on Binance, as the crypto market heads south. The cryptocurrency, which had been stagnant around the $29,000 mark for weeks, saw slow declines during the course of the day before falling $2,300 in one rapid move. It's now back up to $26,300. The price of bitcoin fell by more than $1,000 in minutes. Image: Binance. Similarly, the price of ether dropped from $1,700 to $1,550, according to Binance data, before rebounding to $1,600. The price crash caused $805 million of liquidations, according to CoinGlass. That included $381 million of bitcoin liquidations and $247 million of ether liquidations. The majority of positions affected were long positions as the price dropped. The entire cryptocurrency market cap is down from $1.18 trillion to $1.14 trillion today. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
