China News Official TheBitTimes.com

Over the past 24 hours, 41,186 Bitcoin traders were liquidated, according to data from Coinglass. The total value of these forced sell-offs was $112.67 million, highlighting the increasingly bearish sentiment around the cryptocurrency. The largest single liquidation order during this period took place on Binance for $4.53 million worth of Ethereum (ETH) against Bitcoin (BTC). This indicates traders betting on a bounce for Ethereum against Bitcoin, a bet swiftly stopped out. These liquidations come as Bitcoin’s price languishes well below its all-time high. Bitcoin is trading around $27,692, representing a 0.53% drop over the past 24 hours. Over the past seven days, Bitcoin has lost 0.36% as bullish momentum remains elusive. You might also like: Crypto analyst calls for Bitcoin price to blast off Compared to its November 2021 peak of nearly $65,000, Bitcoin is now down over 57%, highlighting the broad crypto downturn that has transpired over the past year. Lingeri...

The crypto market underwent a brutal crash during the late U.S. hours on Thursday, August 17. Bitcoin and Ethereum created lows around $25,100 and $1,550, respectively. Most other crypto assets also mirrored the bearishness. As a result, the aggregate crypto market cap slipped below the $1 trillion threshold and created a low of around $996.9 billion. A modest recovery was noted right after. However, bearish pressure was still prevalent at press time. BTC/USDT by TradingView Also Read: 1005 ‘Virgin’ Bitcoins Moved After 13 Years: Is Satoshi Back? Owing to the sudden dip in prices, more than $1 billion worth of trades were liquidated over the past 24-hours. In fact, more than 75% of the trades were rekt in a window of merely 30 minutes. Individually, BTC trades worth $493.52 million and Ether trades worth $306.98 million were wiped out of the market. Data from Coinglass revealed that the largest single liquidation order took place on Binance. An ETH/BUSD pair valued at $5...