BTC Dump Strongly Reaches $21,500, ETH Closes To Touch $1,700

The market prospered not long ago, on August 19, BTC and ETH showed signs of a sharp decrease, the market was in the red again.

At the beginning of the new day, the cryptocurrency market witnessed a sudden “turn” that caused the price of Bitcoin (BTC) to flash dump to the milestone of $21,500. The 1H candle with a top from $22,800 dumped straight down to $21,887.

Ethereum is also not immune to a sell-off. ETH price once dumped as far as $1,723, approaching the $1,700 mark.

In the past 4 hours, there were $233 million of assets liquidated, of which 87% were long orders. BTC orders were liquidated the most with a total value of $110 million.

The market is in the midst of a lot of bad news regarding OFAC sanctions against Tornado Cash as well as the increasingly common DNS attacks of yesterday that Celer Network’s cBridge has become a victim. next kernel of this attack method.

On the macro side, UK inflation rose to a 40-year high, contributing to growing concerns about a global recession.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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