CryptoMediaClub
Thursday, July 31, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Analysis

Bitcoin dips below $29k sparking $160M liquidation in crypto market

17.08.2023
A A
0
128
VIEWS
ShareShare

Bitcoin’s (BTC) dip below $29,000 in early trading hours resulted in liquidations totaling around $160 million across the cryptocurrency market.

Coinglass data revealed $48 million in liquidation for investors holding positions in the flagship asset, primarily affecting long traders who incurred most of the losses.

$160 million liquidated

In the last 24 hours, the cryptocurrency market witnessed a substantial liquidation of $158.12 million, with 54,608 traders liquidated.

Bitcoin liquidation
Source: Coinglass

According to Coinglass data, most losses were borne by long traders, who lost approximately $140 million. Bitcoin and Ethereum (ETH) contributed significantly to this figure, accounting for a combined loss of $62.67 million. On the other hand, short traders recorded losses lesser than $20 million.

Across exchanges, over 60% of the total liquidations were on OKX and Binance. During the reporting hours, traders on these exchanges lost more than $100 million. Other exchanges like Huobi, Deribit, and Bitmex also recorded a sizeable amount of the total liquidations.

The single most significant liquidation occurred on Bitmex, with an XBTUSD position valued at $2.26 million.

Bitcoin down to $28k

Earlier today, Bitcoin declined 2% to a multi-week low of $28,428 after trading above $29,000 for an extended period.

CryptoSlate Insights attributed the drop-off to multiple macroeconomic factors, including the U.S. treasury yields recording its highest close since June 2008 and the U.S. dollar index rising above 103. Per the report, these factors “create a challenging environment for Bitcoin” to thrive.

Market analyst Willy Woo also shared similar observations in a recent post on X (formerly Twitter). Woo said:

“Macro headwinds from US dollar strength. Meanwhile there’s increasing demand on futures market (pro traders) and on-chain fundamentals picking up.”

The abrupt price movement marks a notable shift from the relatively stable performance observed last month. On Aug. 16, blockchain analytical firm Kaiko stated that BTC’s and ETH’s 90-day volatility dropped to multi-year lows of 35% and 37% each, making them less volatile than oil at 41%.

Bitcoin volatility
Source: Kaiko

Meanwhile, data from CryptoSlate shows that all top 50 crypto assets, including Ethereum and BNB, saw losses during the reporting period as the broader market plunged 1.83%.

The post Bitcoin dips below $29k sparking $160M liquidation in crypto market appeared first on CryptoSlate.

Share10Tweet6ShareSharePin2

Related Posts

Solana’s xStocks top $1.6B in first month of trading, largely driven by centralized exchanges
Analysis

Solana’s xStocks top $1.6B in first month of trading, largely driven by centralized exchanges

31.07.2025
0

Solana‑based xStocks have cleared a new milestone one month after their June 30 debut, with cumulative trading volume reaching $1.66 billion as...

Read moreDetails
Bitcoin whipsaws below $116k amid largest hourly correction in two weeks; risks of further pullback to $114k

Bitcoin whipsaws below $116k amid largest hourly correction in two weeks; risks of further pullback to $114k

30.07.2025
SEC’s in-kind approval can spark HUGE $710 billion supply squeeze for Bitcoin ETFs

SEC’s in-kind approval can spark HUGE $710 billion supply squeeze for Bitcoin ETFs

30.07.2025
Bitcoin could target $141k if it breaks out of the $105k-$125k box

Bitcoin could target $141k if it breaks out of the $105k-$125k box

30.07.2025
BlackRock says clear US rulebook turns stablecoins into payment method of the ‘future of finance’

BlackRock says clear US rulebook turns stablecoins into payment method of the ‘future of finance’

30.07.2025
Load More
Next Post
7 ways to safely store your private keys

7 ways to safely store your private keys

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Here is How Much Curve Finance Has Recovered From Its $70M+ Hack 

2 years ago
BTC price bounces at $25.8K lows amid warning over low whale interest

BTC price bounces at $25.8K lows amid warning over low whale interest

2 years ago
BitDAO passes BIP-21 token optimization and branding proposal

BitDAO passes BIP-21 token optimization and branding proposal

2 years ago
World Mobile Launches Token Buyback Program to Boost Sharing Economy Expansion

World Mobile Launches Token Buyback Program to Boost Sharing Economy Expansion

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

[LIVE] Crypto News Today: Latest Updates for July 31, 2025 – Bitcoin Holds $118K After Fed Keeps Rates Steady, ETH Trades Above $3.8K

ChatGPT Predicts the Price of XRP, Shiba Inu and Cardano by the End of 2025

Prosecutors Investigating Ex-South Korean President Yoon Quiz ‘Crypto Fraudster’

Solana’s xStocks top $1.6B in first month of trading, largely driven by centralized exchanges

Shiba Inu Price Prediction: 602 Million SHIB Tokens Burned in One Go – Could This Be the First Step Toward $1 SHIB?

Bitcoin whipsaws below $116k amid largest hourly correction in two weeks; risks of further pullback to $114k

Trending

Why Is Crypto Up Today? – July 31, 2025
All news

Why Is Crypto Up Today? – July 31, 2025

31.07.2025
0

The crypto market is up today, seeing a minor uptick. Three-quarters of the top 100 coins per...

10 Million People Globally Targeted by Fake Crypto App Ads, Check Point Warns

10 Million People Globally Targeted by Fake Crypto App Ads, Check Point Warns

31.07.2025
Kraken Revenue Rises to $411.6 Million in Q2, Up 18% from Last Year

Kraken Revenue Rises to $411.6 Million in Q2, Up 18% from Last Year

31.07.2025
[LIVE] Crypto News Today: Latest Updates for July 31, 2025 – Bitcoin Holds $118K After Fed Keeps Rates Steady, ETH Trades Above $3.8K

[LIVE] Crypto News Today: Latest Updates for July 31, 2025 – Bitcoin Holds $118K After Fed Keeps Rates Steady, ETH Trades Above $3.8K

31.07.2025
ChatGPT Predicts the Price of XRP, Shiba Inu and Cardano by the End of 2025

ChatGPT Predicts the Price of XRP, Shiba Inu and Cardano by the End of 2025

31.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz