The trading day continues even more painful for Bitcoin as the premier cryptocurrency took another hit, falling to its lowest price in over two months below $59,300.
The situation is even worse for altcoins: ETH falls below $3,000, SOL drops 8%, and there are some double-digit price drops.
Bitcoin/price/chart. Source: TradingView
Just earlier today, Bitcoin bulls had taken the lead and initiated an impressive advance that saw the asset approach $65,000 for the first time in a few days.
However, this level was not exceeded and the subsequent rejection had serious consequences. Amid the disappointing debut of spot Bitcoin and Ethereum ETFs in Hong Kong, the largest cryptocurrency fell a few grand during the day and continued to plummet in the following hours.
This culminated in the price falling below $60,000 and falling as low as $59,100, which was the lowest price since late February.
ETH is also deeply in the red. The largest altcoin has fallen over 7% in the last 24 hours and is now well below $3,000.
Similar or more painful losses are occurring in companies such as SOL (-8%), DOGE (-7%), SHIB (-7%), AVAX (-7%), LINK (-8%), NEAR (-10%) . ), UNI (-10%), HBAR (-10%) and many others.
As a result, the total value of positions liquidated has increased to almost $400 million daily. Over 110,000 traders were ruined in the same period, with the largest single liquidated on Bybit, valued at more than $5 million.
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