Bitcoin falls below $60,000: 75,000 people liquidated

Bitcoin has plummeted again in the past two days, falling below $63,000, $62,000, and $61,000 in succession, until it fell below $60,000 again in the early morning of the same day. This is also the lowest point since mid-July. As of 11:10 a.m., the time of publication, the latest price of Bitcoin is $60,850, down 0.94% on the day, down 10.23% on the week, and up 5.95% on the month.

The rest of the virtual currencies also fell across the board. Ethereum, SOL, Dogecoin and other mainstream virtual currencies were not spared and fell sharply. Among them, the latest price of Ethereum fell below $3,000, at $2,918, a 24-hour drop of 1.54%, a weekly drop of 10.46%, and a monthly drop of 1.91%. The latest price of SOL was $145.8, a 24-hour drop of 3.49%, a weekly drop of 19.78%, and a monthly increase of 4.4%. The latest price of Dogecoin was $0.1, a 24-hour drop of 2.82%, and a weekly drop of 16.98%.

In addition, as the price of virtual currencies continues to plummet, the number of liquidations in the cryptocurrency market is also increasing. According to data from the cryptocurrency market website CoinGlass, as of 11:00 on August 4, a total of 75,152 people had their positions liquidated in the last 24 hours, with the amount of liquidations reaching US$191 million. Judging from the liquidation situation, the majority of people who lost money were investors who were bullish on the market.

Industry insiders warn that regulators may increase their crackdown on illegal market trading activities in the future. Virtual assets are higher-risk assets, and any investor should be aware of the risks.