Beijing Business News (Reporter Liu Sihong) – Bitcoin has dropped below $60,000, and Ethereum has fallen below $3,000, as virtual currencies have once again entered a phase of sharp decline in recent days. What exactly has happened?
On August 4, Beijing Business reporters noticed that Bitcoin experienced another significant drop over the past two days, consecutively falling below $63,000, $62,000, and $61,000, until it fell below $60,000 in the early hours of the same day. This marks the lowest point since mid-July. As of the time of publication at 11:10 AM on the same day, the latest price of Bitcoin was reported at $60,850, with a daily decline of 0.94%, a weekly decline of 10.23%, and a monthly increase of 5.95%.
Other virtual currencies also witnessed widespread declines. Major cryptocurrencies such as Ethereum, SOL, and Dogecoin were not spared, all experiencing significant drops. Ethereum’s latest price fell below $3,000, reported at $2,918, with a 24-hour decline of 1.54%, a weekly decline of 10.46%, and a monthly decline of 1.91%. SOL’s latest price stood at $145.8, with a 24-hour decline of 3.49%, a weekly decline of 19.78%, and a monthly increase of 4.4%. Dogecoin’s latest price was reported at $0.1, with a 24-hour decline of 2.82%, and a weekly decline of 16.98%.
Additionally, as the prices of virtual currencies continue to plummet, the liquidation within the cryptocurrency sphere has intensified. According to data from the cryptocurrency market website CoinGlass, as of 11 AM on August 4, a total of 75,152 individuals experienced liquidation in the past 24 hours, with the liquidation amount reaching as high as $191 million. From the liquidation situation, it appears that a larger portion of the affected individuals are investors who were optimistic about the market.
Industry insiders have warned that regulatory authorities may further intensify their crackdown on illegal trading activities in the market. Virtual assets are considered high-risk assets, and any investor should remain aware of the risks involved.