82,391 people were liquidated, and lost $242 million overnight!
This is not a bull market, it's a monkey market! It rises in the morning and falls in the evening, this is clearly a monkey trick!
The German and American governments also chose to sell, and the prices of Bitcoin and Ethereum fell all the way. The cryptocurrency market ushered in the worst June and July in history. The government's selling has caused a huge impact on the market. If this situation continues, the market may be difficult to recover.
As of July 8, the price of Bitcoin has fallen to $55,162. The total value of the entire cryptocurrency market has also fallen to $2.04 trillion, a drop of 11.92% in just seven days. Compared with the beginning of June, Bitcoin has fallen by more than 23%.
Looking at the recent data, it is really terrible. According to CoinGlass statistics, within 24 hours, 82,391 people were liquidated and lost a full $242 million! Among them, the loss of buy orders was 174 million, and the loss of sell orders was 68.1443 million.
Under the selling pressure of the German and American governments, the prices of BTC and ETH fell more sharply, and the market atmosphere became increasingly depressed. Now, the government's selling behavior has become the biggest factor affecting the market. If it does not stop, it will be difficult for the market to pick up. This week, we have to keep a close eye on the dynamics of the German and American governments.
In addition, the U.S. Securities and Exchange Commission (SEC) has also postponed its response to the Ethereum ETF, which can start trading as early as next week. There may be good news this week, and investors have to pay attention.
In addition, according to data from IntoTheBlock, since June, "mining" companies have sold more than $2 billion in Bitcoin, which is the highest record in more than a year. Now, the number of Bitcoins in the hands of miners has dropped to the lowest point in 14 years.
Another thing, Mt. Gox Mentougou Exchange recently began to return the money lost by users. Experts say that from 2014 to now, the price of Bitcoin has increased nearly 74 times. After receiving compensation, those creditors may sell some of their bitcoins to make money, especially those who have a lot of bitcoins.
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