Cryptocurrencies lose $300 billion in value in the most severe sell-off in months
"Ether" below $4,000, suffering its largest weekly loss since June
Crypto
Cryptocurrencies lose $300 billion in value in the most severe sell-off in months
"Ether" below $4,000, suffering its largest weekly loss since June
"Bitcoin" dropped 5% this week in its largest decline since March
"Coin Glass": Liquidation of long positions exceeding $3 billion across exchanges
A significant decline in purchases of cryptocurrencies by listed companies
Cryptocurrencies lost about $300 billion in value this week as a wave of leveraged bets collapsed, damaging the largest tokens in the sector and pushing market sentiment to its weakest levels since early summer.
"Ether", the second largest cryptocurrency in the world, led the decline to suffer its largest weekly loss since June. The token's price dropped by about 12%, falling below the crucial support level of $4,000 that traders considered essential. "Bitcoin", the market's leading currency, did not escape, as its price fell by 5% this week in its largest decline since March, reaching the lower end of the range it had recently moved within.
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