Bitcoin, Ethereum Both Dropped Roughly 8% Over the Past Week
3 weeks ago
Top cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), have posted severe losses over the past week.
Bitcoin, the leading cryptocurrency with a market capitalization of roughly $382 billion, has plummeted 7.9% over the past week. It trades at around $19,990, down 1.6% over the past 24 hours, per data from CoinMarketCap.
Bitcoin held range-bound this week, trading between a weekly high of $21,804.91 and a low of $19,600.79.
The week’s bearish price action puts Bitcoin down 71.07% from its historical all-time high of $68,789.63 recorded in November 2021, according to data from CoinMarketCap.
Bitcoin long trades worth $166.42 million have been liquidated over the past week, too, per data from Coinglass. Short positions worth $85.37 million were liquidated over the same period.