Bitcoin (BTC) and other cryptocurrencies were unable to maintain their bullish momentum in the new week due to the turmoil in the macro markets. The announcement by China’s second-largest real estate developer Evergrande that it would not be able to pay its debts that exceed $ 300 billion caused all risk assets, including cryptocurrencies, to move downward.
According to data from CoinMarketCap, Bitcoin, which was hovering around $ 48k over the weekend, started to lose value with the new week and tested $ 40k. The largest altcoin Ether (ETH), on the other hand, fell from around $ 3,300 to $ 2,800.
This decrease in the spot price of cryptocurrencies was also reflected in the futures market. According to data from crypto data source Bybt, in the last 24 hours in the crypto market, $ 742.27 million The value was liquidated. of this amount at 81.44 percent correspondent $ 604.81 million creating long positions.
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The biggest sell-off was seen in the Bitcoin market. in the last 24 hours $ 471.7 million BTC position settled. More than $ 400 million of liquidated BTC positions are long positions.
The value of the Ether positions settled in the last 24 hours is $ 123.75 million It was sized. Long positions represent around $ 95.5 million of this amount.
The value of XRP positions closed in the same time period $ 11.28 million, The value of the left positions (LEFT) $ 21.12 million, if the value of Cardano (ADA) positions $ 6.65 million It was sized. Among the most settled cryptocurrency markets $ 4.93 million with Polkadot (DOT), $ 8.75 million with EOS, $ 9.04 million with Avalanche (AVAX) and $ 4.14 million and Terra (MOON).
Bitcoin, which has lost 3.31 percent in the last 24 hours, as of the news broadcast. at $ 42,417 it is being negotiated. Ether, which was down 2.19 percent in the same period, to $ 2,986 looking.