Bitcoin · Ethereum · Bitcoin ETF · Decrypt
Bitcoin Dives Below $75K for First Time in a Month as Crypto Liquidations Near $1 Billion
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◎ Multiple-sources
Bitcoin is starting to rebound after a rocky night that saw the top cryptocurrency by market cap dive below $75,000 for the first time in over a month, dipping as low as $74,344 in the early hours of Saturday.
Key facts
- Other major cryptocurrencies are showing similar declines, with Ethereum falling 2.7% in the last day to a recent price of $2,059 and Solana declining over 3% to a price of $84
- The coin is currently trading around $75,500, showing a 1.8% drop over the last 24 hours and 2.7% in the last week
- While there's no immediately obvious trigger for Bitcoin's latest leg down, the dip below $75,000 comes as Bitcoin ETFs had a terrible week, shedding over $1.25 billion worth of investments amid
- Bitcoin is starting to rebound after a rocky night that saw the top cryptocurrency by market cap dive below $75,000 for the first time in over a month, dipping as low as $74,344 in the early hours
Summary
The coin is currently trading around $75,500, showing a 1.8% drop over the last 24 hours and 2.7% in the last week. Other major cryptocurrencies are showing similar declines, with Ethereum falling 2.7% in the last day to a recent price of $2,059 and Solana declining over 3% to a price of $84. Thanks to Bitcoin's overnight dip below the $75,000 mark, a growing pile of crypto futures positions has been liquidated in the last day. Long positions—or bets that an asset's price will rise—dominate the carnage with $827 million worth of liquidations.