{"id":27851,"date":"2024-03-19T12:53:02","date_gmt":"2024-03-19T12:53:02","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/altcoins-bleed-as-bitcoin-dives-7-to-lows-of-62k\/"},"modified":"2024-03-19T12:53:02","modified_gmt":"2024-03-19T12:53:02","slug":"altcoins-bleed-as-bitcoin-dives-7-to-lows-of-62k","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/altcoins-bleed-as-bitcoin-dives-7-to-lows-of-62k\/","title":{"rendered":"Altcoins bleed as Bitcoin dives 7% to lows of $62k"},"content":{"rendered":"

(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b>
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Bitcoin price<\/a> tanked more than 7% on Tuesday morning as the bloodbath across the crypto market pushed altcoins deep into correction territory.<\/span><\/p>\n

BTC reached lows of $62,438 as bears threatened to plunge prices to the $60k level.<\/span><\/p>\n

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BTC price near key level as alts bleed<\/span><\/h2>\n

As the benchmark cryptocurrency struggled, altcoin bloodbath also intensified. Ethereum, Solana, BNB, Cardano and Avalanche all fell double digits, with ETH dipping to $3,200, SOL to $172 and BNB to $502. Cardano and Avalanche dropped to $0.59 and $55 respectively.<\/span><\/p>\n

According to data from Coinglass<\/a>, a total of 242,841 traders had been liquidated in the past 24 hours (as at 7.40 am ET on Tuesday). <\/span><\/p>\n

The total liquidations stood at over $651 million, longs the hardest hit at over $538 million and shorts at $113 million. BTC accounted for over $190 million in liquidated longs in the past 24 hours, while ETH accounted for over $126 million.\u00a0<\/span><\/p>\n

Data showed the largest single liquidation order occurred on the OKX exchange and involved the BTC\/USDT-SWAP at a value of $12.25 million. Earlier in the day, a whale had dumped 400 BTC on the BitMEX exchange, plunging Bitcoin\u2019s price to $8,900.<\/span><\/p>\n

While prices across major exchanges remain above $60k, crypto analyst Ali suggests BTC could tank to support at $56k or even $51k. the key support level beneath current levels is $61,100, the analyst noted.<\/span><\/p>\n

\u201cSome of the key Bitcoin support levels to watch are $61,100, $56,685, and $51,530. On the other hand, critical resistance points for $BTC stand at $66,990 and $72,880<\/em>,\u201d Ali posted<\/a> on X on Tuesday.<\/span><\/p>\n

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Some of the key #Bitcoin<\/a> support levels to watch are $61,100, $56,685, and $51,530. On the other hand, critical resistance points for $BTC<\/a> stand at $66,990 and $72,880. pic.twitter.com\/VUjzyf2xVm<\/a><\/p>\n

\u2014 Ali (@ali_charts) March 19, 2024<\/a><\/p>\n<\/blockquote>\n

Bitcoin\u2019s recent spike to an all-time high of $73,737 pushed its market cap to above $1.4 trillion. The flagaship cryptocurrency\u2019s value elevated it above Meta and Silver into world\u2019s eighth most valuable asset.<\/span><\/p>\n

Today\u2019s declines have pushed BTC down to 10th with a market cap of $1.23 trillion. Data<\/a> shows Silver is eighth with $1.41 trillion and Meta ninth with $1.26 trillion.<\/span><\/p>\n

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