Bitcoin Tumbles Amid ETF Outflows; Ethereum, Dogecoin, Solana Crash: Analytics Firm Says ETH Can Make It To $5,000
Leading cryptocurrencies dived further on Monday as rising institutional outflows hampered the risk-on sentiment.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:10 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -2.89% | $109,609.15 |
| Ethereum (CRYPTO: ETH) |
-7.59% | $4,361.60 |
| XRP (CRYPTO: XRP) | -4.31% | $2.87 |
| Solana (CRYPTO: SOL) | -8.14% | $187.46 |
| Dogecoin (CRYPTO: DOGE) | -8.28% | $0.2091 |
Crypto Liquidations Surpass $900 Million In 24 Hours
Bitcoin fell below $109,000, while Ethereum dropped to the early $4,300s, as the market’s post-Jackson Hole gains faded after a whale sold $2.7 billion worth of BTC.
The flash crash dragged other altcoins down, with Solana and Dogecoin plunging by more than 8% each.
Bitcoin’s market dominance fell to 57.9%, while Ethereum’s share increased to 14%.
In the past 24 hours, 203,687 traders were liquidated and the total liquidations came in at $928.12 million. A whopping $818 million in long positions were erased.
Bitcoin’s open interest dipped 3.20% over the last 24 hours. That said, Binance derivatives traders bought the dip, increasing their long exposure to the apex cryptocurrency, according to the Long/Short Ratio.
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