On the night of August 28, the exchange rate of most major crypto assets fell.
Since then, Bitcoin has been trading below $60,000, Ethereum below $2,500.
The fear and greed index fell 19 basis points.
On the night of August 28, 2024, the Bitcoin rate fell below $60,000, Ethereum - $2,500. Since then, both assets have been trading below the indicated marks.
While preparing this material, the price of the first cryptocurrency reached $59,282. The drawdown was more than 6%:
Ethereum, in turn, is trading at $2466. In this case, the drawdown is almost 10%:
The Bitcoin dominance indicator also dropped. During the day on August 27, it fluctuated around 57.5%, but began to fall by the evening. At one point, it reached 57.32%, after which it partially recovered:
The fall in the value of these and some other crypto assets triggered a wave of liquidations on futures contracts. The total amount exceeded $322 million.
Of the top 10 crypto assets by capitalization, only two are in the "green" zone - USDC and USDT. Ethereum, Solana and Dogecoin fell the most:
The Fear and Greed Index has fallen 18 basis points in 24 hours. At the time of writing, it is at 30, below last week's reading:
What exactly caused the decline is unknown at the time of writing. One possible reason is the shift in the spot Bitcoin ETF sector from positive to negative dynamics.
On August 26, there was a net daily capital inflow of more than $200 million, and on August 27, an outflow of $127 million, according to SoSo Value.
