The leading cryptocurrency Bitcoin (BTC) started the first day of the new week with a striking drop, falling to $29,000. Volatility in the cryptocurrency market increased on the first day of the week. According to Coinglass data, over $150 million worth of short and long positions were liquidated in the past 24 hours.
What’s the Current Situation with Bitcoin?
The leading cryptocurrency Bitcoin (BTC), which has been consolidating between $29,500 and $31,500 in recent weeks, started the new week with a downward trend. Bitcoin (BTC) recorded a loss of over 3% in the past 24 hours, trading at $29,000.
There has been an increase of around 90% in Bitcoin’s total trading volume in the past 24 hours. Bitcoin’s total market dominance (BTC.D) is currently at 48.8% according to CMC data.
With the impact of the value loss in Bitcoin (BTC), many cryptocurrencies with high market value also experienced losses on the first day of the week. The total market value of the cryptocurrency ecosystem fell to $1.17 trillion according to CMC data after the declines during the day.
What’s the Current Situation in the Crypto Market?
Ethereum (ETH), which lost more than 1.5% in the past 24 hours, started trading at $1840. Many cryptocurrencies with high market value experienced losses in varying proportions during the day. On the other hand, Dogecoin (DOGE), which stood out in the market during the day, recorded an increase of over 4% in the past 24 hours, trading at $0.075 despite the downward trend in the market.
Volatility in the cryptocurrency market has also increased significantly. According to Coinglass data, over $150 million worth of short and long positions were liquidated in the past 24 hours.
