Bitcoin

Million

Coin

<ul class="news-points">
 <li>Bitcoin and Ether dropped 2% and 7% in the last 24 hours, respectively.</li>
 <li>Around $250 million was wiped off from the crypto space in the past 24 hours.</li>
 <li>Experts said that the US stock market tumble is partially responsible for the crypto crash.</li>
</ul>
The crypto market tumbled on Thursday, with leading digital assets Bitcoin (BTC) and Ether (ETH) erasing gains from the previous week. Bitcoin is currently trading at $64,000, while Ether sits at $3,182, reflecting a decline of over 7% in the last 24 hours.
Data from Coinglass reveals that <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">more than $250 million</a> was liquidated from the digital asset space in the past 12 hours, with nearly $300 million wiped out over the last 24 hours. An additional $52.44 million was liquidated within the past four hours alone. Binance, the world’s largest crypto exchange, saw nearly $100 million liquidated in the last 12 hours.
The crypto market downturn coincides with a lackluster performance in the U.S. stock market on Wednesday, attributed to waning artificial intelligence enthusiasm, according to a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-25/bitcoin-btc-ether-eth-slide-as-risk-aversion-spreads-to-crypto-market" target="_blank" rel="noopener noreferrer nofollow">report</a>. Investor sentiment appears to have been dampened by the stock market decline.
The post <a href="https://coinedition.com/crypto-crash-intensifies-liquidations-soar-past-250-million-in-12-hours/" rel="noopener noreferrer nofollow">Crypto Crash Intensifies: Liquidations Soar Past $250 Million in 12 Hours</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Crypto Crash Intensifies: Liquidations Soar Past $250 Million in 12 Hours

Coin Edition

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