Crypto Market Rocked By $1B In Liquidations As Bitcoin Nears $109k, ETH Falls Below $4K
The crypto market was rocked by almost $1 billion in liquidations in the past 24 hours, sending total market capitalization down 2% to $3.84 trillion as Bitcoin slid close to $109k and Ethereum fell below $4k. Over 227,000 traders were liquidated during the downturn, according to CoinGlass data, with altcoins Story (IP), Aster (ASTER), and Avalanche (AVAX) leading losers with falls of 24%, 13%, and 8%, respectively. Market indicators show a downbeat mood, with the crypto average Relative Strength Index (RSI) dropping to 35.2, entering oversold territory, while the Crypto Fear & Greed Index plummeted to a ”Fear” reading of 28, down from 44 yesterday. The Bitcoin price dropped 2% to trade at $109,427 as of 12:51 a.m. EST, while top altcoin Ethereum lost 1% to trade at $3,952. Only a select few tokens bucked the downtrend, with OKB (OKB), Mantle (MNT), and Kaspa (KAS) leading gainers with increases of 7%, 3%, and 3%, respectively. Amid the carnage, Fundstrat’s To...