A "battle royale" is taking place in the virtual currency market.
On the morning of August 3rd, Beijing time, the price of Bitcoin suddenly collapsed, falling below $61,000 at one point. Ethereum, Binance Coin, Dogecoin and other currencies also followed suit.
As of press time, the price of Bitcoin continued to fall, temporarily reported at US$60,862 per coin.
Image source: HTX
Bitcoin suddenly suffered a massive sell-off
On the morning of August 3rd, Beijing time, the virtual currency market fluctuated violently, Bitcoin suffered a large-scale sell-off, and the price fell rapidly, breaking through the three integer thresholds of US$63,000, US$62,000, and US$61,000 in succession, reaching a low of US$60,517 per coin.
Other currencies in the virtual currency market have all plummeted. Ethereum fell 6.84% in 24 hours, Binance Coin fell more than 5% in 24 hours, and Dogecoin fell 6.8% in 24 hours. CoinGecko data shows that the total market value of cryptocurrencies has fallen below $2.2 trillion, with a 24-hour drop of nearly 4%, and more than $88 billion (about RMB 630.1 billion) in market value has evaporated.
According to Coinglass data, in the past 24 hours, nearly 100,000 people had their positions liquidated in the virtual currency market, with a total liquidation amount of US$330 million (approximately RMB 2.36 billion), of which US$286 million were long positions liquidated and US$43.79 million were short positions liquidated.
