Markets
Bitcoin plummets to $67,000, but these coins are doing worse (market watch)
The cryptocurrency market continues to fall after the crash that occurred at the end of last week. Total capitalization was pushed below $2.6 trillion due to significant losses from Bitcoin and most altcoins.
Bitcoin price drops to $67,000
At the time of writing, BTC is trading around $67,500, having fallen to around $67,200 on Binance. The change represents a 2.7% decline in the last 24 hours.
Data from popular analytics resource Coinglass shows that total settlements in the last 24 hours were around $170 million. Most of them, as expected, are long positions. In fact, more than 92% of all positions on major derivatives platforms are long. Leading the way is Binance, with around $65 million in total liquidations, followed by OKX and Huobi.
Some Altcoins are doing worse
Many of the large-cap altcoins are seeing steeper declines compared to Bitcoin. As can be seen in the chart below, SOL fell by 3.6%, SHIB fell by 3.6%, ETH – 3.7%, PEPE – 3.8%, TON – 3%, BNB – 5% and so on.
As CryptoPotato previously reported, meme coins are also experiencing a bloodbath. Coins like PEOPLE, PONKE, BRETT, DOGE, FLOKI, SHIB and others – are all trading well in the red.
It will be interesting to see if this is a short-term correction or if the decline will continue through the rest of the summer months.
Meanwhile, today’s top performer is Injective (INJ), which is up 10%. This follows an enhanced tokenomics announcement that took place a few days ago.
The popular meme coin Notcoin (NOT), based on TON, has fallen the most among the top 100. NOT fell 14.7% in the last 24 hours. Wormhole and BRETT follow suit with drops of 11.6% and 9.4%, respectively.
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Cryptocurrency Charts by TradingView.