\n\t\t\t\t\t\t\t\t\tETH dipped below $2,000 for the first time in almost three months. XRP went to a local low of its own at $1.02.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The cryptocurrency market is on the move again, and the direction is rather familiar and painful. Bitcoin just tanked to $72,000, marking a multi-month low, and the altcoins have followed suit after Trump\u2019s latest comments on the war against Iran.<\/p>\n
Expectedly, the total value of wrecked positions has jumped again, with $220 million worth of longs getting wrecked in just an hour.<\/p>\n
Crypto Market Drops Again<\/h2>\n
Recall that it was just eight days ago when the primary cryptocurrency stood at $81,000 before it was rejected 24 hours later and slumped by several grand to $75,600. On Friday, it dipped further to under $75,000. Nevertheless, it managed to stand close to $76,000 over the weekend before the bears regained control of the market at the start of the current business week.<\/p>\n
The culmination until today involved a slip<\/a> below $73,000 on Tuesday after the higher-than-expected CPI reading. Bitcoin tried to recover some ground yesterday when it neared $75,000, but another rejection followed<\/a> that drove it south to $73,500 earlier today. It dived once again minutes ago to $72,150 on most exchanges, after US President Donald Trump said<\/a> his country doesn\u2019t need a deal with Iran. Brent and WTI futures rose by over 1%, unlike the crypto markets.<\/p>\n Many altcoins have taken even more severe beatings. ETH slid below $2,000 for the first time since August 19, while XRP came just inches away from dipping beneath $1.00. NEAR has dumped the most among the larger-cap alts, plunging by almost 10% to under $3.40. XMR, HYPE, ZEC, DOGE, and SOL are also well in the red.<\/p>\n The liquidations on a daily scale are up to $530 million, but $222 million out of that total came in the past hour alone. As typically happens under similar market conditions, longs are responsible for the lion\u2019s share, with $217 million. BTC leads the adverse trend with $92.61 million in wrecked positions, while ETH follows suit with almost $59 million. That\u2019s all in the past hour.<\/p>\n The number of wiped-out traders is close to 110,000, while the single-largest liquidated position took place on Hyperliquid and was worth over $31 million. It involved the BTC\/USDT pair.<\/p>\n \u00a0<\/p>\nLiquidations Rise<\/h2>\n
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