CoinMarketSar shows: bitcoin price fell to $29 000 on major exchanges. The fall in the market value of the first cryptocurrency was accompanied by a massive liquidation of traders’ long positions, which reached 203% in a day. Of the total value of positions liquidated, $124 million were long positions. Largest liquidation of $2.57 million recorded on crypto exchange OKX. The total value of the cryptocurrency market fell 2% to $1.2 trillion as the top cryptocurrency by capitalization plummeted.
The trigger for the decline in the value of VTS could be the forecast of a possible interest rate hike by the U.S. Federal Reserve by 0.25%.
Michaël van de Poppe, founder and CEO of trading company Eight, states: over the past 30 days, the VTS price has been in a narrow range and has failed 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,” the
expert.
The value of bitcoin fell to $28 870. On the weekly timeframe, BTC lost about 4.2% of its value.
On Monday, July 24, there was a
a notable event in the history of the first cryptocurrency – 800,000 blocks were mined on the Bitcoin network. Only 40,000 blocks remain to be mined before the next halving.