Bitcoin

Cardano

iBNB

<ul><li>Bitcoin drops below $54K, triggering $700M in liquidations, says Michaël van de Poppe.</li><li>Altcoins like XRP and BNB face steeper losses, with XRP hitting a one-year low.</li><li>Michaël van de Poppe advises against panic selling amid the largest liquidation since FTX.</li></ul>The crypto market has experienced a significant downturn, with both Bitcoin and leading alternative coins suffering severe losses. Michaël van de Poppe, CIO and Founder of MN Trading Consultancy, recently <a href="https://x.com/CryptoMichNL/status/1809121873734594924" rel="noopener noreferrer nofollow">shared</a> his thoughts on X, expressing surprise at the market&#39;s unexpected fall and reaffirming his decision not to sell his positions in altcoins. This steep decline has resulted in substantial liquidations, with Bitcoin falling below $54,000 for the first time since February 2024.<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdVB_zYzlrIKzNLc61WfVOmrlYu8Qz-C2r3zWfpLK8EaRPu2qCZ7pDFaSR8VxKNanV1SEtHHCx7mVBS6fyatuW7YartL2v3l18DsTKRzWb3XMxH7EjGxtzpkWNRBE0ad6RbIcwtjNqZ3SXIGo1wCOAs5PBq?key&#61;j_VA8B_059u9cnxhJ-Xvzg" />Bitcoin, the primary crypto, <a href="https://cryptotale.org/bitcoin-faces-historic-sell-pressure-is-now-the-time-to-buy/" rel="noopener noreferrer nofollow">saw its price dip</a> below $54,000 earlier today, marking its lowest point since February. This dramatic drop has led to the liquidation of nearly $700 million in positions, severely impacting over-leveraged traders. Additionally, the market&#39;s overall capitalization has plummeted to $2.07 trillion, reflecting an 8.6% decrease over the last 24 hours. Consequently, the significant downturn has not only affected Bitcoin but has also led to widespread panic among investors.<a href="https://cryptotale.org/analyst-reaffirms-strategy-amidst-bitcoin-and-altcoin-liquidations/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Analyst Reaffirms Strategy Amidst Bitcoin and Altcoin Liquidations

CryptoTale

Other articles published on Jul 6, 2024

Shiba Inu Investors Turn Optimistic as 42% SHIB Supply Faces Losses

Base Mafia, a memecoin project, is set to launch its ICO in Q3 2024

Airdrops with Easy Entry Requirements

Ripple (XRP) Holders Need to Do More Than Just Hope for Price Recovery

Bitcoin sales by gov’ts just 4% of $225B bull market inflows — Analyst

MoonBag Price Forecast: Analysts Eye $1 by 2025, While Solana and Stacks Facing Persisting Challe...

Join our free newsletter for daily crypto updates!