Bitcoin Price Falls Below $59K Amid Broad Market Rout; Ether Slumps Almost 10%
- PHPzOriginal
- 2024-08-28 12:05:40739browse
Bitcoin hit the lowest price since Aug. 19. It was not immediately clear what sparked the sell-off.
Bitcoin and other cryptocurrencies fell sharply on Wednesday evening as the U.S. business day closed with broad market sell-offs.
Bitcoin dropped below $59,000, while ether fell almost 10%.
Bitcoin had hit the lowest price since Aug. 19. It was not immediately clear what sparked the sell-off.
After hitting $62,700 earlier in the day, bitcoin was down 6.5% from 24 hours earlier. It fell to as low as $58,240, the lowest price since Aug. 19. Ether had earlier traded as high as $2,700, but recently fetched less than $2,500.
The sell-off comes as U.S. business hours draw to a close. The Dow Jones Industrial Average fell by over 400 points on Wednesday, while the S&P 500 and Nasdaq Composite also fell.
It was not immediately clear what sparked the sell-off in crypto markets. The sudden downturn triggered $313 million in liquidations of leveraged crypto derivatives positions over the past 24 hours, the biggest washout since Aug. 5 crash, CoinGlass data shows.
ETH traders suffered over $100 million in liquidations, while BTC traders endured $95 million.
Other top-10 cryptocurrencies by market capitalization have seen similar declines, with BNB (BNB) falling nearly 4% to $528, Solana's (SOL) dropping 7% to $146 and (XRP) trading down 4% to $0.56. Dogecoin (DOGE) and Tron (TRX) were also down 6.5% and 2.25% respectively, trading at $0.098 and $0.158.
The Telegram-associated (TON) token was actually up nearly 5% over the past 24 hours, after falling precipitously on the news that Telegram founder Pavel Durov had been arrested in France on various charges.
The above is the detailed content of Bitcoin Price Falls Below $59K Amid Broad Market Rout; Ether Slumps Almost 10%. For more information, please follow other related articles on the PHP Chinese website!