Coin World Report:
The speed of its decline is as fast as its rise.
Bitcoin Price
On Sunday, the price of each coin quickly approached $70,000, but this potential feat was scoffed at. Instead, it began to fall and broke through the $67,000 mark on Monday morning, causing significant losses for derivatives traders.
The largest digital asset
By market capitalization, the current trading price is $67,300 after a nearly 2% drop in the past day.
The decline of Bitcoin means that futures traders who were betting on its price increase have suffered losses. CoinGlass data shows that long positions of all cryptocurrencies have been liquidated for approximately $123 million in the past 24 hours.
Among them, nearly $47 million were Bitcoin positions. The total amount of cryptocurrency liquidations in the past 24 hours has reached $200 million, including short positions, with Ethereum falling just under $1 million compared to Bitcoin.
Cryptocurrencies started to surge last week as Bitcoin exchange-traded funds (ETFs), mainly in the US, began to see a surge in investments. CoinShares, a European asset management company, stated in a report on Monday that last week was the best-performing week for investment tools since July, with inflows of over $2.2 billion.
Analysts suggest that US investors are more optimistic about the possibility of Donald Trump being elected president again. The former president and real estate tycoon strongly supports cryptocurrencies, while Democratic candidate Kamala Harris is seen as much slower in embracing this field.
Elsewhere,
Ethereum Price
With the current price of $2,670, it has fallen by approximately 1% in the past 24 hours. However, it has risen by nearly 2% in the past week. CoinShares’ report on Monday stated that investors are still injecting funds into funds for the second-largest cryptocurrency, albeit not as enthusiastically as with Bitcoin ETFs.
Editor
Andrew Hayward
