đCrypto world, buckle up! Major tokens took a 7.5% nosedive in the past 24 hours. Bitcoin lost 3% of its charm, while Ethereum, Cardano, and Solana also joined the "drop party". đ
đ„This led to the liquidation of over $150M in bullish bets. Blame it on Bitcoin miners' large sales, the German government's BTC moving spree to exchanges, and the market sentiment that's as fickle as a pickle. đ„
đBitcoin, Ether, Cardano's ADA, and BNB Chain's BNB all registered similar losses. Solana's SOL dropped 7% to trade at nearly $120 on Monday morning, while meme coins Dogecoin and Shiba Inu dropped nearly 5%.
đžThe CoinDesk 20 slumped just over 4%, causing longs to record more than $150M in liquidations. Shorts saw a relatively smaller $9M in losses.
đSome attribute the losses to large sales from Bitcoin miners and reactive sentiment to the German government moving a significant amount of BTC to exchanges.
đźWhat's your take on this? Are we heading for a crypto winter or is this just a temporary chill? Share your thoughts in the comments! #DeFi #Web3 #CryptoNews
