Cryptocurrency markets are facing significant declines. Bitcoin has fallen to just above $113,000, while altcoins are showing even worse performance.
Bitcoin Price Dynamics
According to data, the price of Bitcoin continues to freefall from the $118,000 mark reached on July 31, having lost over $5,000 since then.
Liquidations in the Cryptocurrency Market
Data from Coinglass indicates that the total liquidations over the past 24 hours have surpassed $900 million, up more than 300% since yesterday. Long traders took the biggest hit, accounting for around $800 million of the total liquidation volume, with ETH leading at approximately $300 million.
Impact of External Politics on the Market
The price drop is seen amid significant turmoil in international geopolitics and macroeconomics. Donald Trump’s tariff policy, which includes additional 10% tariffs on goods from Canada and other countries, has also adversely affected market conditions.
The challenging situation in cryptocurrency markets, alongside broader economic conditions, continues to significantly influence prices and liquidations. Investors should closely monitor the unfolding events.