Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

2025-05-19

Top analyst reveals 5 altcoins with a big advantage

2025-05-19

Interlink and Blazpay Partner to improve the user experience in Web3 with AI

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Interlink and Blazpay Partner to improve the user experience in Web3 with AI

    2025-05-19

    Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

    2025-05-19

    Jesse Pollak explains how Pectra Upgrade will overload the basic network

    2025-05-18

    Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate Web3 AI-Game Development

    2025-05-18

    Chainware and Karatdao work together to redefine security and identity in chains

    2025-05-18
  • NFT

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16

    Founder wallet emptied while he leaves

    2025-05-15

    British Museum puts sculptures from Dürer’s ‘Rhinoceros’ on Bitcoin Blockchain

    2025-05-14
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

    2025-05-19

    XRP – Price is struggling to keep the ground – breakdown or breathing break?

    2025-05-19

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Bitcoin»Decoding Bitcoin’s state after a 13% price plunge
Bitcoin

Decoding Bitcoin’s state after a 13% price plunge

2023-08-18No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • Bitcoin’s 13% price fall over the past day led to a dip in the overall crypto market cap.
  • Longs wrecked massively, with $373.37 million worth of positions liquidated.

The events of the past 24 hours shook the crypto market, with Bitcoin [BTC] experiencing a 13% dip over the past day. This saw the king coin briefly touch the $25k price zone before recovering to trade at $26.5k, as of press time.


Read Bitcoin’s [BTC] Price Prediction 2023-24


According to CoinMarketCap, the global crypto market lost over 6% of its market capitalization within the period. BTC’s market dominance also dropped to 48.45%, representing a decrease of 0.56% over the day.

With lots of speculation in the markets about BTC’s sudden price drop, investors and traders alike maintained a cautious approach as events unraveled.

Has the market dump been coming?

Bitcoin BTC price chart on dark background with green and red price bars

Source: BTC/USDT on Trading View (4H)

BTC’s price chart over the four timeframe showed a significant consolidation around the $29.4k price zone. This was after the price rejection at the bearish order block (OB) between $29.8K and $30.3K.

With Bitcoin’s market structure flipping bearish on the daily timeframe in late July, short-term sellers have been priming for a sustained downtrend.

Amid the rising volatility, the Relative Strength Index (RSI) dropped deep into the oversold zone, hitting 5.31 on the four-hour timeframe. Likewise, there were notable capital outflows which saw the Chaikin Money Flow (CMF) drop to -0.27, although it eased a bit to -0.18, as of the time of writing.

See also  On-Chain Data Suggests Another Bitcoin Price Trend Reversal Will Happen – What Happens?

The cautious approach by traders could limit a price recovery for BTC, with sellers still dominating the market. With a Fair Value Gap (FVG) between $25.1k to $26.5k, sellers could push for a retest of the $25.3k price zone before bulls can initiate a sustained rebound.

Longs wrecked massively in the futures market

Source: Coinglass

The sharp price drop saw millions of long positions wiped out across several exchanges. Data from Coinglass showed that $373.37 million worth of long positions were liquidated in the last 24 hours. This amounted to 74.8% of the total liquidations of $499 million within the period.


How much are 1,10,100 BTCs worth today?


Similarly, there was a spike in exchange inflows within the same period, per Santiment. This highlighted the huge sell pressure which contributed to the price capitulation.

While the press time price levels could be considered a decent buying opportunity, the bearish price action was something to keep an eye out for, with a lot of active sellers still in the market.

Bitcoin BTC on-chain metrics

Source: Santiment

Source link

Bitcoins Decoding Plunge Price State
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

All the reasons why the price of Bitcoin could be set for an explosive rally

2025-05-19

XRP – Price is struggling to keep the ground – breakdown or breathing break?

2025-05-19

$ 10 million bitcoin? Investment Pro calls it ‘chance’ of your life

2025-05-18

Hedera Hashgraph (HBAR) Price forecast before 19 May

2025-05-18
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Trump’s pick for SEC chairman will begin a major overhaul of crypto policy as early as next week: report

2025-01-15

SBF guilty of growing a terrible mustache (and trying to prevent FTX users from testifying in his case)

2023-10-04

Crypto Analyst Issues Bitcoin Warning, Outlines the ‘Must-Hold’ BTC Level Needed to Keep Bull Dreams Alive

2024-11-02
Editors Picks

How will the recent integration of Chainlink stimulate the hashkey chain?

2025-03-14

81 Binance wallets withdraw $31 million in LINK, what this means

2023-09-22

About the BAYC-Themed Metaverse Experience in the Sandbox

2023-07-08

The future of cross-border B2B transactions lies on the blockchain

2024-12-11
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

Top analyst reveals 5 altcoins with a big advantage

Interlink and Blazpay Partner to improve the user experience in Web3 with AI

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$102,943.76-0.87%
  • ethereumEthereum(ETH)$2,412.17-3.65%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.31-3.14%
  • binancecoinBNB(BNB)$640.95-0.73%
  • solanaSolana(SOL)$161.55-5.53%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.217740-2.01%
  • cardanoCardano(ADA)$0.72-4.23%
  • tronTRON(TRX)$0.262978-3.50%
  • suiSui(SUI)$3.67-4.25%
  • chainlinkChainlink(LINK)$15.25-2.71%
  • avalanche-2Avalanche(AVAX)$21.69-5.63%
  • stellarStellar(XLM)$0.281047-3.11%
  • hyperliquidHyperliquid(HYPE)$25.32-4.89%
  • shiba-inuShiba Inu(SHIB)$0.000014-4.03%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-0.95%
  • hedera-hashgraphHedera(HBAR)$0.187527-3.39%
  • bitcoin-cashBitcoin Cash(BCH)$384.08-3.73%
  • the-open-networkToncoin(TON)$2.99-3.35%
  • litecoinLitecoin(LTC)$95.66-2.74%
  • polkadotPolkadot(DOT)$4.51-5.01%
  • moneroMonero(XMR)$345.751.61%
  • bitget-tokenBitget Token(BGB)$5.16-1.35%
  • daiDai(DAI)$1.000.00%
  • pepePepe(PEPE)$0.000013-3.76%
  • piPi(PI)$0.72-2.48%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$5.75-2.85%
  • bittensorBittensor(TAO)$393.69-6.69%
  • aaveAave(AAVE)$221.31-1.52%
  • nearNEAR Protocol(NEAR)$2.69-2.73%
  • aptosAptos(APT)$4.99-3.77%
  • okbOKB(OKB)$51.93-2.36%
  • ondo-financeOndo(ONDO)$0.90-4.18%
  • kaspaKaspa(KAS)$0.104691-5.90%
  • ethereum-classicEthereum Classic(ETC)$17.77-3.48%
  • internet-computerInternet Computer(ICP)$5.06-3.59%
  • gatechain-tokenGateToken(GT)$21.36-0.98%
  • crypto-com-chainCronos(CRO)$0.094935-4.10%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.49-3.59%
  • mantleMantle(MNT)$0.73-1.02%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.231471-2.85%
  • vechainVeChain(VET)$0.027272-4.02%
  • render-tokenRender(RENDER)$4.41-5.05%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • ethenaEthena(ENA)$0.352387-6.22%
  • filecoinFilecoin(FIL)$2.78-3.02%
  • algorandAlgorand(ALGO)$0.215414-3.07%
  • arbitrumArbitrum(ARB)$0.374244-3.95%
  • bitcoinBitcoin(BTC)$102,943.76-0.87%
  • ethereumEthereum(ETH)$2,412.17-3.65%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.31-3.14%
  • binancecoinBNB(BNB)$640.95-0.73%
  • solanaSolana(SOL)$161.55-5.53%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.217740-2.01%
  • cardanoCardano(ADA)$0.72-4.23%
  • tronTRON(TRX)$0.262978-3.50%
  • suiSui(SUI)$3.67-4.25%
  • chainlinkChainlink(LINK)$15.25-2.71%
  • avalanche-2Avalanche(AVAX)$21.69-5.63%
  • stellarStellar(XLM)$0.281047-3.11%
  • hyperliquidHyperliquid(HYPE)$25.32-4.89%
  • shiba-inuShiba Inu(SHIB)$0.000014-4.03%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-0.95%
  • hedera-hashgraphHedera(HBAR)$0.187527-3.39%
  • bitcoin-cashBitcoin Cash(BCH)$384.08-3.73%
  • the-open-networkToncoin(TON)$2.99-3.35%
  • litecoinLitecoin(LTC)$95.66-2.74%
  • polkadotPolkadot(DOT)$4.51-5.01%
  • moneroMonero(XMR)$345.751.61%
  • bitget-tokenBitget Token(BGB)$5.16-1.35%
  • daiDai(DAI)$1.000.00%
  • pepePepe(PEPE)$0.000013-3.76%
  • piPi(PI)$0.72-2.48%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$5.75-2.85%
  • bittensorBittensor(TAO)$393.69-6.69%
  • aaveAave(AAVE)$221.31-1.52%
  • nearNEAR Protocol(NEAR)$2.69-2.73%
  • aptosAptos(APT)$4.99-3.77%
  • okbOKB(OKB)$51.93-2.36%
  • ondo-financeOndo(ONDO)$0.90-4.18%
  • kaspaKaspa(KAS)$0.104691-5.90%
  • ethereum-classicEthereum Classic(ETC)$17.77-3.48%
  • internet-computerInternet Computer(ICP)$5.06-3.59%
  • gatechain-tokenGateToken(GT)$21.36-0.98%
  • crypto-com-chainCronos(CRO)$0.094935-4.10%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.49-3.59%
  • mantleMantle(MNT)$0.73-1.02%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.231471-2.85%
  • vechainVeChain(VET)$0.027272-4.02%
  • render-tokenRender(RENDER)$4.41-5.05%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • ethenaEthena(ENA)$0.352387-6.22%
  • filecoinFilecoin(FIL)$2.78-3.02%
  • algorandAlgorand(ALGO)$0.215414-3.07%
  • arbitrumArbitrum(ARB)$0.374244-3.95%