Coinglass data from just the previous hour shows significant market liquidation of $31.33 million.
Bitcoin’s price has dropped below $28,000 for the first time in over two months.
Stocks in the United States unexpectedly fell at the market close, with the technology-focused Nasdaq Composite leading the decline. The release of the Fed’s July meeting minutes affected market sentiment because they highlighted a rising worry among top officials about “upside inflation risks.”
Fear of further interest rate rise dampened investor optimism on Thursday, sending the Bitcoin price to a two-month low. Bitcoin’s price has dropped below $28,000 for the first time in over two months. BTC’s relative stability throughout July is intriguing, especially in light of the recent dramatic drop.
Overall Market Collapse
Earlier, on August 14 the price spiked all the way to the $29.64K mark but failed to maintain momentum. After consolidating for a day on August 15, the downtrend gradually sta
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