Plunge

Long

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin (BTC) has experienced a significant decline, causing over $142 million in liquidations.</li> 
 <li>The number of new Bitcoin addresses has also shown volatility, reflecting market instability.</li> 
</ul>  
<p>Bitcoin’s value has seen a significant drop in recent days. This has led to a large volume of liquidations, affecting traders and investors navigating through these volatile conditions. Such conditions have contributed to the recent fluctuations in market sentiment.</p> 
<h2 id="bitcoin-s-continuous-decline">Bitcoin’s Continuous Decline</h2> 
<p>Analyzing <a href="https://coineagle.com/price/bitcoin/">Bitcoin (BTC)</a> on a daily timeframe chart shows its most significant decline in four months. On 2nd August, BTC fell by 5.93%, from around $65,293 to approximately $61,418. This marked the largest single-day decline since April.</p> 
<p>By the end of trading on 3rd August, BTC had slipped further to about $60,674, marking a 1.24% decline and falling below the $61,000 price range. As of this writing, Bitcoin is trading at around $60,143, marking a further nearly 1% decrease.</p> 
<h2 id="long-bitcoin-liquidations">Long Bitcoin Liquidations</h2> 
<p>Bitcoin has seen a significant volume of long liquidation in the past week. Over the last two days, the total liquidation volume exceeded $142 million. On 3rd August, the liquidation volume was nearly $60 million, with long positions accounting for almost $43 million.</p> 
<p>The total liquidation volume in the previous trading session reached approximately $83 million, with long positions making up nearly $67 million. The funding rate has also shown volatility over the past few days.</p> 
<p>The number of new Bitcoin addresses has also shown volatility. In the last three days, there has been a significant decline in the number of new addresses. This decrease may reflect a cautious sentiment among potential new participants in the market amid the current price instability.</p>

Bitcoin Plunge Incurs $142M Loss: What’s the Next Move?

Table of Contents

CoinEagle.com

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