Bitcoin (BTC) fell over 6% on Aug. 27 to a low of $57,880 before marking a slight recovery.
The vast majority of the losses have been recorded in lower than an hour after Bitcoin misplaced the important thing $61,000 assist degree and continued sliding till discovering a brand new ground.
As of press time, the flagship crypto was nonetheless down 6% over the previous 24 hours and buying and selling at $59,300 as bulls try a recovery, primarily based on CryptoSlate information.
The broader market echoed the bleeding, with massive caps down considerably from the highs reached over the previous weekend.
Massive caps bleed
Ethereum (ETH) was hit the toughest throughout the interval, falling nearly 10% on the day to a low of $2,388 before bulls regained management. In the meantime, Solana (SOL) fell to a low of $145 before notching a recovery.
As of press time, ETH and SOL have been buying and selling at $2,454 and $147 — down 8.6% and 6.5%, respectively, over the previous 24 hours. BNB fared barely higher and was down 3.6% as of press time and buying and selling at $529.
The remainder of the highest 10 have been all down between 5% and seven%, aside from TRON, which was down 2% as of press time.
In the meantime, Toncoin (TON) was buying and selling towards the market and up 4.8% over the final 24 hours. Nevertheless, the coin is down 20% over the previous week following the arrest of Telegram founder and CEO Pavel Durov in France.
Liquidations
Over the previous 24 hours, the market skilled over $300 million in liquidations, with the bulk happening inside the previous 4 hours, primarily based on Coinglass data.
A lot of the liquidations have been lengthy positions, with roughly $193.16 million rekt over the final 4 hours. In the meantime, quick liquidations stood at $12.03 million over the identical interval.
Bitcoin lengthy liquidations accounted for $73.35 million of the quantity, whereas Ethereum lengthy liquidations amounted to $59.99 million. Solana’s lengthy liquidations stood at $8.9 million, rounding out the highest three.
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