Crypto Market Drops 1% as $222.42 Million Liquidated

The cryptocurrency market began the week with a notable decline, indicating a cooling trend. Major cryptocurrencies experienced a period of consolidation over the weekend, reflecting growing uncertainty within the industry. Over the past day, a total of 89,143 traders were liquidated from the market, resulting in a combined liquidation value of approximately $222.42 million. The largest single liquidation order was recorded on a major cryptocurrency exchange at the BTC/USDT pair, amounting to $12.20 million.

Bitcoin, the leading cryptocurrency, showed minimal price variation of less than 1% with a trading volume of just over $40 billion. Its value stood at $106,977.51, with a market capitalization of $2.24 trillion. Bitcoin's dominance in the market remained above 64%, currently at 64.6179%.

Following Bitcoin's lead, Ethereum also recorded a consolidated price action but managed to maintain its value above the crucial $2,400 mark, suggesting potential bullish momentum. Similarly, XRP held its value around the $2.17 mark. The top three cryptocurrencies started the week on a weak note, raising concerns about their short-term prospects.

Over the past 24 hours, the crypto market experienced a minor correction of less than 1% in its valuation. The global cryptocurrency market capitalization decreased to $3.291 trillion, with an intraday trading volume of $94.3 billion, marking a significant change of +32.86%. The Fear & Greed index stood at 52, indicating neutral buying and selling pressure. The Altcoin Season Index was at 19, suggesting strong Bitcoin dominance in the cryptocurrency world.