Bitcoin Falls Towards $67,000, But These Coins Are Doing Worse (Market Watch)

The cryptocurrency market continues to decline after the fall that took place at the end of last week. The total capitalization fell below $2.6 trillion due to significant losses in Bitcoin and most altcoins.

Bitcoin price falls towards $67,000

At the time of writing, BTC is trading around $67,500, after dropping to $67,200 on Binance. The measure represents a decrease of 2.7% in the last 24 hours.

Source: CoinGecko

Data from the popular analytics resource Coinglass shows that total liquidations in the last 24 hours are around $170 million. Most of them, one would expect, are long positions. In fact, over 92% of all positions on major derivatives platforms are long. The leader is Binance with about $65 million in total settlements, followed by OKX and Huobi.

Some Altcoins have it worse

Many of the large-cap altcoins are painting steeper declines compared to Bitcoin. As you can see in the chart below, SOL is down 3.6%, SHIB is down 3.6%, ETH – 3.7%, PEPE – 3.8%, TON – 3%, BNB – 5%, etc.

Source: Quantify Crypto

As previously reported by CryptoPotato, meme coins are also going through a bloodbath. Coins like PEOPLE, PONKE, BRETT, DOGE, FLOKI, SHIB and others, are trading well in the red.

It will be interesting to see if this is a short-term correction or if the decline will continue through the rest of the summer months.

Meanwhile, today’s best performer is Injective (INJ), which rose 10%. This follows an announcement of enhanced tokenomics that took place a few days ago.

The popular TON-based meme coin Notcoin (NOT) is the biggest drop out of the top 100. NOT is down 14.7% in the last 24 hours. Wormhole and BRETT follow with a decline of 11.6% and 9.4%, respectively.

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