Major Cryptocurrencies Decline as Market Liquidations Exceed $500 Million
Leading cryptocurrencies experienced further declines while stock markets remained relatively unchanged on Monday as investors reduced their risk appetite.
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The cryptocurrency market faced significant pressure on Monday with major coins showing declining performance. Bitcoin fell below $115,000 before recovering to approximately $117,000, while Ethereum briefly reached $4,400 before dropping back to the $4,300 range. The market experienced over $535 million in liquidations within 24 hours, with $436 million coming from long positions.
Bitcoin's market dominance decreased below 59%, while Ethereum's share increased to 13.3%. Despite the volatility, over 57% of Binance traders maintain a bullish outlook on Bitcoin.
Stock markets showed minimal movement, with investors awaiting Jerome Powell's speech at Jackson Hole and anticipating a potential Federal Reserve rate cut in September.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/08/47200095/bitcoin-ethereum-dogecoin-xrp-slide-as-crypto-liquidations-top-500-million-analyst-says-thi