• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • bitcoinBitcoin(BTC)$22,881.00-2.15%
    BITCOIN
    24H : -2.15%
    Volume : $29,118,704,665.00
    Marketcap : $441,202,902,831.00
  • ethereumEthereum(ETH)$1,635.20-2.01%
    ETHEREUM
    24H : -2.01%
    Volume : $8,501,056,815.00
    Marketcap : $197,059,564,216.00
  • usdex-stablecoinUSDEX(USDEX)$1.08-0.31%
    USDEX
    24H : -0.31%
    Volume : $128,575.00
    Marketcap : $110,959,993,107.00
  • tetherTether(USDT)$1.000-0.01%
    TETHER
    24H : -0.01%
    Volume : $38,846,976,376.00
    Marketcap : $68,082,077,344.00
  • binancecoinBNB(BNB)$326.30-1.82%
    BNB
    24H : -1.82%
    Volume : $944,123,973.00
    Marketcap : $44,030,490,742.00
  • usd-coinUSD Coin(USDC)$1.000.050%
    USD COIN
    24H : 0.050%
    Volume : $2,846,611,363.00
    Marketcap : $41,973,567,073.00
  • rippleXRP(XRP)$0.399-2.94%
    XRP
    24H : -2.94%
    Volume : $1,029,839,522.00
    Marketcap : $20,267,466,708.00
  • binance-usdBinance USD(BUSD)$1.000.060%
    BINANCE USD
    24H : 0.060%
    Volume : $9,604,811,460.00
    Marketcap : $16,260,949,098.00
  • cardanoCardano(ADA)$0.393-2.13%
    CARDANO
    24H : -2.13%
    Volume : $383,464,869.00
    Marketcap : $13,760,024,892.00
  • dogecoinDogecoin(DOGE)$0.093-2.71%
    DOGECOIN
    24H : -2.71%
    Volume : $939,575,427.00
    Marketcap : $12,852,976,034.00
TodayinCrypto.com

TodayinCrypto.com

  • Home
  • Latest News
  • YOUTUBE RECAPS
  • CONTACT US

The cryptocurrency market cap falls below $1 trillion as Bitcoin drops to a monthly low


August 26, 2022 · By MATheGooner

Bitcoin rose sharply as new US economic data fueled expectations of a Federal Reserve turnabout. However, the price of the number one cryptocurrency has since fallen to levels not seen this month.

The market capitalization of all cryptocurrencies has fallen below $1 trillion in a tricky choppy market price action as other cryptocurrencies follow in Bitcoin’s footsteps.

The price of bitcoin jumped on Friday afternoon, reaching $21,886 on Bitstamp according to TradingView, a gain of 3% in just 2 hours, before plummeting to its lowest price point this month in the following hours.

The move looked to have marked a surprise about-turn for Bitcoin before it continued the selling pressure trend it had been on as markets awaited clues from Fed Chair Jerome Powell’s Jackson Hole symposium speech.

The rest of the cryptocurrency market, which followed the flagship cryptocurrency, is drowning in a sea of red. The market capitalization of all cryptocurrencies worldwide has lost $60 billion since its intraday peak as it dips below $1 trillion for the first time in a month.

The bumpy market price action has resulted in a sizable amount of liquidation due to traders’ failure to profit from their wagers on the price trajectory of Bitcoin and other cryptocurrencies. Short order liquidations make up 73.33% of all liquidations, according to data from Coinglass.

84,409 traders from across the cryptosphere liquidated their long orders in the last day, bringing the total amount liquidated to about $268 million.

There are indications that further volatility is coming. Manage your portfolio carefully as the lack of a BTC futures premium, a series of liquidations over the past week, and excessive stablecoin lending all hint toward potential new yearly lows.

Primary Sidebar

LATEST NEWS

Australia scheduled to release plans to regulate cryptocurrencies in the country

February 4, 2023

Binance severs ties with Indian cryptocurrency exchange WazirX

February 3, 2023

Former Bank of China advisor urges China to rethink its ban on cryptocurrencies

February 2, 2023

Federal judge forbids SBF from using Signal to contact FTX and Alameda staff

February 1, 2023

Tesla posts a $140 million bitcoin net loss in 2022

January 31, 2023

  • Facebook
  • Instagram
  • Twitter

Newsletter

Footer

ABOUT US

TodayinCrypto is a financial media brand that strives to deliver breaking, accurate and daily news about digital assets to millions of investors in the crypto industry.

We are passionate about Bitcoin and are keen to share news about the people, companies and technological developments that are changing our world.

TODAY IN CRYPTO

  • Research shows London is the commercial city that is the most geared for cryptocurrencies February 5, 2023
  • Australia scheduled to release plans to regulate cryptocurrencies in the country February 4, 2023
  • Binance severs ties with Indian cryptocurrency exchange WazirX February 3, 2023

Search

Tags

Aave (AAVE) Aleph.im (ALEPH) Arweave (AR) Avalanche (AVAX) Benchmark Protocol (MARK) Binance Coin (BNB) Bitcoin (BTC) Bondly (BONDLY) Bridge Mutual (BMI) Cardano (ADA) Celsius Network (CEL) Chainlink (LINK) COTI (COTI) Decentraland (MANA) Dogecoin (DOGE) Elrond (EGLD) Enjin Coin (ENJ) Ethereum (ETH) Ethernity Chain (ERN) Fantom (FTM) FTX Token (FTT) Kusama (KSM) Litecoin (LTC) NFT OriginTrail (TRAC) PAID Network (PAID) PancakeSwap (CAKE) Polkadot (DOT) Polkastarter (POLS) Polygon (MATIC) SnowSwap Solana (SOL) SuperFarm (SUPER) Sushi (SUSHI) Terra (LUNA) Terra Classic (LUNC) The Graph (GRT) Theta Network (THETA) Tixl (TXL) Trustswap (SWAP) Uniswap (UNI) VeChain (VET) XRP (XRP) yearn.finance (YFI) Yield Optimization Platform & Protocol (YOP)

Copyright © 2023 · Today in Crypto · Terms & Privacy · Log in