🚨 Bitcoin and Ethereum hit 3-month lows as $727M liquidated
Bitcoin slumped to $71,317 and Ethereum briefly touched $1,983, marking their lowest levels since August. The broader crypto market valuation has fallen to $2.39 trillion, erasing $550 billion in value since early October.
The price crash triggered massive liquidations across derivatives markets, wiping out 125,731 traders in 24 hours. Total liquidations reached $727 million, with 91% of Bitcoin liquidations coming from long positions as bullish traders were caught off guard.
Institutional demand is weakening as US spot Bitcoin ETFs recorded $2 billion in net outflows over the last three weeks. Ethereum ETFs are also struggling, facing a seventh consecutive week of withdrawals totaling $2.1 billion.
#Bitcoin #Ethereum #CryptoMarket #Liquidations
Bitcoin slumped to $71,317 and Ethereum briefly touched $1,983, marking their lowest levels since August. The broader crypto market valuation has fallen to $2.39 trillion, erasing $550 billion in value since early October.
The price crash triggered massive liquidations across derivatives markets, wiping out 125,731 traders in 24 hours. Total liquidations reached $727 million, with 91% of Bitcoin liquidations coming from long positions as bullish traders were caught off guard.
Institutional demand is weakening as US spot Bitcoin ETFs recorded $2 billion in net outflows over the last three weeks. Ethereum ETFs are also struggling, facing a seventh consecutive week of withdrawals totaling $2.1 billion.
#Bitcoin #Ethereum #CryptoMarket #Liquidations