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When one climbs, the other falls. Bitcoin and Ethereum, the two giants of crypto, engaged in a silent duel this Sunday. While ETH flirted with the stars, BTC sank like a disoriented satellite. Their dynamic? Opposed. Their impact? Brutal. This curious ballet, tinged with crypto cannibalism, triggered a shockwave across the entire market. A look back at a day when the lines moved, sometimes very violently.
In brief
- Ethereum touched $5,000 before plunging under $4,700.
- Bitcoin fell to $110,671 in just one hour on Sunday.
- More than 130,000 traders were liquidated in one day.
- Around $300M in long positions disappeared from the market in a few minutes.
Ethereum flies high, Bitcoin loses ground: a tense crypto Sunday
Ethereum struck hard: $4,957 reached, a historic record that electrified altcoin fans. The market held its breath, hoping to cross the symbolic $5,000 mark. But barely had this euphoria begun, ETH was violently rejected toward $4,700, in just a few minutes. Enough to awaken the demons of volatility.
Meanwhile, bitcoin played the clock around $114,500. Then, in one hour, came the plunge: BTC collapses to $110,671, marking its lowest level since July 10.
This reversal of dynamics is striking. Where ETH inspired dreams, BTC sowed panic. Some see it as a simple coincidence, others as a temporary redistribution of power. One thing is certain: nerves are at their peak. Against a backdrop of low liquidity and overexposed traders, every move becomes a spark.
Liquidations, losses, and pains: the price of excess for BTC traders
A black Sunday. That is what the 130,000 traders liquidated in just one day will remember. More than $300 million went up in smoke in less than an hour, including 90% long positions. The message is clear: overconfidence costs dearly in crypto.
The record? A $12 million position destroyed on OKX. Meanwhile, bitcoin stagnated at $112,760, trying to pick up the pieces. XRP, DOGE, SOL… all wobbled.
Key facts to remember:
- ETH: record at $4,957, drop to $4,700 in a few minutes;
- BTC: plunge from $114,500 to $110,671 in one hour;
- Over 130,000 traders liquidated on Sunday;
- Bitcoin price at the time of writing: $112,760;
- Record loss for a trader: over $12M on OKX.
The current climate? A mix of fear, opportunism, and cold sweats. Intraday traders struggle between hopes of a rebound and fear of a relapse.
The crypto market has not yet delivered its verdict. But amid this turmoil, some analysts agree that the bitcoin bull run continues. They point to a still bullish market in the long term, despite the shocks. For them, this correction is just a step… a trial before acceleration.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.