Beijing Business News (Reporter Liu Sihong) – Bitcoin has fallen below $60,000, and Ethereum has dropped below $3,000, as virtual currencies experience another wave of sharp declines. What exactly has happened?
On August 4, Beijing Business reporters noted that Bitcoin has once again plunged in the past two days, consecutively falling below $63,000, $62,000, and $61,000, until it dropped below $60,000 in the early hours of the same day. This marks the lowest point since mid-July. As of the time of this report at 11:10 AM, the latest price of Bitcoin was $60,850, reflecting a daily decrease of 0.94%, a weekly decline of 10.23%, and a monthly increase of 5.95%.
Other virtual currencies also experienced a widespread downturn. Ethereum, SOL, Dogecoin, and other mainstream cryptocurrencies were not spared, all suffering significant declines. Among them, Ethereum’s latest price has fallen below $3,000, reported at $2,918, with a 24-hour decline of 1.54%, a weekly drop of 10.46%, and a monthly decrease of 1.91%. SOL’s latest price stands at $145.8, with a 24-hour drop of 3.49%, a weekly decrease of 19.78%, and a monthly increase of 4.4%. Dogecoin’s latest price is $0.1, with a 24-hour decline of 2.82%, a weekly drop of 16.98%.
In addition, as the prices of virtual currencies continue to plummet, the phenomenon of liquidation in the cryptocurrency market is intensifying. According to data from the cryptocurrency market tracking website CoinGlass, as of 11 AM on August 4, a total of 75,152 individuals had been liquidated in the past 24 hours, with the total liquidation amount reaching $191 million. Analysis of the liquidation situation indicates that a larger portion of the affected individuals are investors who were bullish on the market.
Industry insiders remind that regulatory authorities may further intensify their crackdown on illegal trading activities in the market. Virtual assets are high-risk assets, and all investors should maintain a clear awareness of the risks involved.
