СoinMarketСap shows: the price of bitcoin on the main exchanges fell to $29,000. The fall in the market value of the first cryptocurrency was accompanied by a massive liquidation of long positions of traders, which reached per day 203%. Of the total liquidated positions, $124 million were long positions. The largest liquidation of $2.57 million was recorded on the OKX crypto exchange. Against the background of the fall of the main cryptocurrency by capitalization, the total value of the crypto market fell by 2%, to $1.2 trillion.
The trigger for a decrease in the cost of military-technical cooperation could be a forecast of a possible increase in interest rates by the US Federal Reserve by 0.25%.
Michael van de Poppe, founder and CEO of Eight trading company, states that over the past 30 days, the BTC price has been in a narrow range and has not been able to break through the “key area”.
“The critical level for Bitcoin was never broken, so we will continue to see sideways movement in the near future,” — said
expert.
The cost of bitcoin fell to $28,870. On the BTC weekly timeframe lost about 4.2% of the cost.
On Monday, July 24, a significant event in the history of the first cryptocurrency took place – 800,000 blocks were mined in the Bitcoin network. There are only 40,000 blocks left until the next halving.
Source: Bits
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