Nearly 67,000 Investors Lose Everything As Bitcoin Falls Below $24K

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Nearly 67,000 Investors Lose Everything As Bitcoin Falls Below $24K

Investors are still in a wait-and-see mode after weeks of alternately encouraging, occasionally perplexing economic indices and business earnings, as 66,918 traders were liquidated for the day, amounting to $204.40 million in liquidations.

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The largest single liquidation order was placed on Okex and was worth $2.22 million in BTC-USDT-SWAP.

Bitcoin was slightly over $24,000 at the time of writing, down over three percentage points over the previous 24 hours, but still trading above the top of the $20,000 to $24,000 band, where it has stayed for more than a month. The bulk of altcoins are currently trading in the black as well after a few days of following gains.

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Crypto outlook

The pioneer crypto asset appeared to be off to a good start to the week when it reached $25K late on Sunday (U.S. time) after several days of flirting with the psychologically significant threshold.
The cryptocurrency changed its trajectory and dropped by more than $1K within a few hours as the crypto-verse was finally cheering and expecting another run higher. Even while its market valuation is still above $450 billion, its dominance over the alternatives has decreased yet more and is now only at 40.1%.
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Nearly 67,000 Investors Lose Everything As Bitcoin Fall Below $24K
Ether followed a like trajectory, peaking late on Sunday at almost $2,000 before tumbling down at around $1.8K. The second-largest cryptocurrency by market cap recently decreased by about 2.5% from the day before, but it is still significantly higher than levels from earlier this summer due to growing investor excitement for The Merge, which will switch the Ethereum protocol from the slower, less efficient proof-of-work model to the faster, more efficient proof-of-stake model.
Ethereum is still up by 5% over the past week, making it the best-performing coin of the week among the top ten largest digital assets during that time period, despite a considerable decline over the day.

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