Bitcoin fell below $60,000, Ethereum - $2,500
On the night of August 28, 2024, the Bitcoin rate fell below $60,000, Ethereum - $2,500. Since then, both assets have been trading below the indicated marks.
While preparing this material, the price of the first cryptocurrency reached $59,282. The drawdown was more than 6%.
Ethereum, in turn, is trading at $2,466. In this case, the drawdown is almost 10%.
The Bitcoin dominance indicator also fell. During the day of August 27, it fluctuated within 57.5%, but began to fall by the evening. At one point, it reached 57.32%, after which it partially recovered.
The fall in the value of these, as well as some other crypto assets, caused a wave of liquidations on futures contracts. The total amount exceeded $322 million. More details in a separate article.
Of the top 10 crypto assets by capitalization, only two are in the "green" zone - USDC and USDT. Ethereum, Solana and Dogecoin fell the most
What exactly caused the decline is unknown at the time of writing. One possible reason is the transition of the spot bitcoin ETF sector from positive to negative dynamics.
