Bitcoin And Ethereum Plunge Brings The Whole Market Down

Bitcoin And Ethereum Plunge Brings The Whole Market Down

The Merge hasn’t pushed crypto prices as expected. Instead, the third week of September has kicked off with more reds than greens. The entire market has plunged, and even the overall market cap dropped. 

Currently, many crypto assets are losing every hour. Many crypto exchanges are forcefully liquidating leveraged positions. According to Coinglass, the total amount liquidated already has reached $431.51 million, with 130,087 traders affected. 

Related Reading: These Two On-Chain Signals Precede Bitcoin Falls, Suggests Analyst

Bitcoin Price Plunged

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Currently, the Bitcoin price stands at $19,326, indicating a 2.38% loss in 24 hours. Even though its one-hour price gain shows progress at 1.07%, BTC has lost 13.58% in one week. 

Bitcoin traded above $20K from September 10 to 14 before the Ethereum Merge. A

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