Bitcoin fell below $60,000 in the early hours of Sunday in the U.S., continuing a market sell-off that is now in its fourth day. Bullish bets on futures have lost nearly $200 million in the past 24 hours. Ether (ETH) has slipped below $2,900, giving back all the gains from its rise to $3,400 in July after spot ETH exchange-traded funds (ETFs) were approved for trading in the US.
According to CoinGecko data, BTC has fallen 4 percent in the past 24 hours, hitting a three-week low of $59,400. Among the major cryptocurrencies, Solana (SOL) and Dogecoin (DOGE) are down more than 9%. BNB, XRP and Cardano (ADA) lost at least 6%. Toncoin (TON) performed relatively better with a loss of 1.8%.
Ether (ETH) fell below $2,900, bringing it back to where it was before rising to $3,400 in July following the approval of spot ETH exchange-traded funds (ETFs) in the US. The products recorded net outflows on six of nine trading days, with total net outflows since launch totaling $510 million, according to SoSoValue data.
The broad CoinDesk 20 Index (CD20), which tracks the largest tokens minus stablecoins, was down 5.73%.

According to CoinGlass, bullish bets on futures lost nearly $200 million in the last 24 hours as more than 97,000 traders were liquidated due to sudden market moves. Long positions in ETH brought losses of $55 million, followed by long positions in Bitcoin with losses of $43 million.
Some traders had earlier warned of a possible drop in BTC to the $55,000 level amid geopolitical tensions in the Middle East and lower sentiment towards risky assets such as tech stocks.