Crypto liquidation deepens, with Ethereum's bearish impressions weighing on top altcoins
The liquidation data models related a bearish slump on Bitcoin, whose liquidations have also topped $18.86 million overnight. The general bearish outlook of Ethereum had a profound effect on the altcoins in the market today. The data and its impact have dragged the price of Ethereum to $1,600, down by 0.97% in the past 24 hours.
This drag is also reflected in the current price of XRP, which is down by 2.67% to $0.5013. Cardano , Solana and Dogecoin are also down by 0.66%, 1.70% and 0.13%, respectively. The liquidation chart underscores over time, wherein the performance of BTC and ETH weighs accompanying altcoins across the board.
According to the current liquidation heatmap from CoinGlass, there is certainty that Ethereum will be hitting its highest liquidation value for this quarter if the downward pressure is sustained as the month wraps up.The crypto market as a whole has shown a whole lot of intriguing moves in recent times featuring a rare outlook from some of the most volatile assets in the market.
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