Coin World reported:
After reaching a high of $69,546 yesterday, Bitcoin began to fluctuate and fall. Earlier, it approached $66,500, which caused many investors to be washed out. Ethereum’s decline was even greater, returning to the consolidation zone around $2,640.
After reaching a high of $69,546 yesterday morning, “selling pressure began to emerge” in Bitcoin. After falling below $67,000 last night, it once again approached the $66,500 level around 8:30 am, quickly pulling back below the low point of October 17, and washing out many investors.
As of the deadline, it rebounded to $67,296, a 2.46% decline in the past 24 hours. The upward trend of Bitcoin seems to have been interrupted. Whether this is just a temporary correction or the main force wants to kill the market when sentiment is high and then pull back closer to the US election, remains to be seen.
Ethereum is weaker, with continuous fluctuations and declines after reaching a high of $2,769 yesterday. It is currently back to the consolidation zone around $2,640.
Over the past 24 hours, the total amount of liquidation in the entire network has exceeded $204 million during the decline of Bitcoin. Nearly 63,000 people have been liquidated, according to Coinglass data.
Although the liquidation data has increased compared to yesterday, it is not too severe based on historical data, and it is speculated that the volatility may further increase in the future.
Source: Coinglass
On the other hand, although the open positions of Bitcoin on exchanges have fallen from the new high of $40 billion, they are still relatively high overall, and more violent market fluctuations may still occur at any time.
