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Bitcoin Plummets Toward $67K but These Coins Have it Worse (Market Watch) – CryptoPotato

Written by Blockchain News


The cryptocurrency market continues declining following the crash that happened late last week. The total capitalization was pushed below $2.6 trillion on the back of significant losses by Bitcoin an most of the altcoins.

Bitcoin’s Price Plummets Toward $67K

At the time of this writing, BTC is trading at around $67,500, having plunged all the way down to around $67,200 on Binance. The move paints a 2.7% decline in the past 24 hours.

Source: CoinGecko

Data from the popular analytics resource Coinglass shows that the total liquidations for the past 24 hours stand at around $170 million. Most of them, expectedly, are long positions. In fact, over 92% of all positions across the leading derivatives platforms are longs. Leading is Binance with around $65 million of total liquidations, followed by OKX and Huobi.

Some Altcoins Have It Worse

A lot of the large-cap altcoins are painting steeper declines compared to Bitcoin. As seen in the chart below, SOL is down 3.6%, SHIB is down 3.6%, ETH – 3.7%, PEPE – 3.8%, TON – 3%, BNB – 5%, and so forth.

Source: Quantify Crypto

As CryptoPotato reported earlier, meme coins are going through a bloodbath as well. Coins like PEOPLE, PONKE, BRETT, DOGE, FLOKI, SHIB, and others – are all trading well in the red.

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It’s interesting to see if this is a short-term correction or if the decline will continue throughout the rest of the summer months.

Meanwhile, today’s best performer is Injective (INJ), which increased by 10%. This follows an announcement of improved tokenomics that took place a few days ago.

The popular TON-based meme coin Notcoin (NOT) is the one that plunged the most out of the top 100. NOT is down 14.7% in the past 24 hours. Wormhole and BRETT follow suite with 11.6% and 9.4% declines, respectively.


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Cryptocurrency charts by TradingView.

About The Author

George Georgiev
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Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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