Bitcoin Stagnates, Ether Plummets to Lowest Value Since March – Read the Shocking News Now!

Bitcoin Price Stalls Below $27,000 as Ether Hits Seven-Month Low

The price of Bitcoin has experienced a slight rebound after recent declines but remains below the $27,000 mark. According to CoinGecko, the cryptocurrency opened Friday at $26,819, showing a modest 0.4% increase in the past 24 hours.

However, Bitcoin has seen a significant decline of 3.84% over the past seven days, indicating that it may close the week in another downward trend. Despite some minor gains among the top 10 cryptocurrencies, none of them recorded movements above 1%.

Among the top performers was Solana (SOL), which saw a 0.7% increase, while BNB registered gains of 0.6%. On the negative side, stablecoins and XRP experienced losses of 0.1% each.

Meanwhile, the performance of the top 100 cryptocurrencies was mostly negative with limited movements. RUNE saw a recovery, rising by 10.7%, the highest gain of the day. On the other hand, MNT and KAS led the losses with 4.9% and 4.4% respectively, showing more moderate declines.

The total market capitalization of cryptocurrencies stood at $1.08 trillion ($5.48 trillion) while the trading volume declined by 12% to $21.9 billion at the start of the day. Bitcoin’s dominance increased to 50%, and Ether’s dominance remained at 17.8%, totaling 67.8% of the market.

Ether Hits Seven-Month Low

While Bitcoin managed to maintain stability, the second-largest cryptocurrency has struggled in recent days. The price of ETH was trading near $1,800 in early October but started to lose value, possibly triggered by the conflict between Israel and the terrorist group Hamas.

As a result, the cryptocurrency dropped more than $200 in just over a week. On Friday, ETH reached a value of $1,547, experiencing a minimal loss of 0.1%. In Brazil, the cryptocurrency also declined by 0.1% and opened the day at R$7,798.

This drop pushed Ether to its lowest value since March this year, when the cryptocurrency hit a bottom of $1,429. However, ETH still shows gains of 22% for the year as its price stood at $1,200 on January 1.

Futures and Liquidations

A stable market is not the ideal scenario for derivatives, which is why volumes have declined both in futures and liquidations. According to Coinglass, the futures market experienced a 20% drop, with the total volume reaching $43.4 billion. Binance traded $6.43 billion, followed by OKX with a total volume of $2.51 billion.

Liquidation volumes opened the day at $41.9 million, a decline of 23.36% in the past 24 hours, with most of the liquidations in long positions ($25.18 million). Short positions were liquidated with a total volume of $16.86 million, with ETH being notable among the long positions, while the token BIGTIME led the declines among the short positions.

In one noteworthy case, the largest individual liquidation order occurred on OKX, where a trader operating with Ether took a stop loss of $2.55 million. In total, 18,441 traders were liquidated in the past 24 hours.

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