A super storm has swept through the cryptocurrency market, with the number of liquidated positions reaching 230,000
A super storm has swept through the cryptocurrency market, with 230,000 people being liquidated and a total liquidation amount of $883 million. The prices of Ethereum and Bitcoin plummeted, causing the total market value of cryptocurrencies to drop below $2 trillion at one point. Cryptocurrency-related stocks such as CleanSpark, MicroStrategy, Coinbase, and Riot Platforms also experienced significant declines in their stock prices
On August 5th, according to data from FXStreet, a super storm swept through the cryptocurrency market. Following a sharp decline on Sunday, on Monday (August 5th), the cryptocurrency market collapsed directly. Ethereum plummeted during the day, falling by more than 26% at one point and dropping below $2,100 per coin; Bitcoin also fell below $53,000 per coin at one point, hitting a low of $52,600 per coin, with a drop of over 10%. Data from Coinglass shows that in the past 24 hours, the number of liquidated positions in the cryptocurrency market reached 230,000 people, with a total liquidation amount of $883 million, of which $759 million were long positions liquidated. The largest liquidation occurred on Huobi-BTC, worth $27 million. According to CoinGecko data, the total market capitalization of cryptocurrencies fell below $2 trillion at one point during the day, shrinking by approximately $270 billion in a single day. After the U.S. stock market closed, cryptocurrency concepts collectively declined, with CleanSpark falling by over 15%, MicroStrategy falling by over 13%, and Coinbase and Riot Platforms falling by over 12%