Major Cryptocurrencies Fall After $2.7B Bitcoin Whale Sale Triggers Market Crash
Leading cryptocurrencies experienced significant declines following a massive Bitcoin liquidation by a whale investor.
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A whale investor liquidated 24,000 BTC worth approximately $2.7 billion on Sunday, causing Bitcoin to crash from $114,000 to $110,000 within minutes. This massive sell-off triggered over $562 million in market liquidations, with $426 million from long positions.
Bitcoin fell 2.18% to $112,839, while Ethereum dropped 1.34% to $4,715, XRP declined 1.84% to $2.99, and Dogecoin fell 4.05% to $0.2278. The global crypto market cap decreased 2.14% to $3.92 trillion.
Despite the downturn, analysts remain optimistic, with some predicting Bitcoin could reach $117,600 and Ethereum might hit $5,000 soon.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/08/47300556/bitcoin-ethereum-dogecoin-xrp-slip-after-whale-dumps-btc-worth-2-7-billion-eth-hits-record-