Bitcoin slumped to under $60,000 with futures bets losing nearly $200 million amidst a market sell-off. Ether also fell under $2,900 retracing gains from $3,400 in July due to approved ETFs causing net outflows.
Over 97,000 traders were liquidated in 24 hours. ETH longs lost $55 million, bitcoin longs $43 million. The CD20 index, excluding stablecoins, dropped 5.73% reflecting the general market decline.
Traders warned of a potential drop to $55,000 for BTC amid geopolitical tensions and reduced risk appetite for assets like tech stocks.
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