{"id":28263,"date":"2024-09-02T17:30:57","date_gmt":"2024-09-02T14:30:57","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=28263"},"modified":"2024-09-02T13:36:27","modified_gmt":"2024-09-02T10:36:27","slug":"crypto-market-slumps-bitcoin-down-10-in-a-week","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/crypto-market-slumps-bitcoin-down-10-in-a-week\/","title":{"rendered":"Crypto Market Slumps: Bitcoin Down 10% in a Week"},"content":{"rendered":"<p>Over the weekend, <strong>the market for cryptocurrencies<\/strong> slightly slumped. As of 07:00 UTC, Bitcoin is trading at $57,719, down 1.5% daily and almost exactly 10% over the past week. With a market capitalization of $1.1 trillion and a 54% market dominance, the biggest bitcoin keeps.<\/p>\n<p>The second biggest cryptocurrency, ether, is selling for $2,440 and shows a 1.7% drop over the last day and an 11% drop over the past week.<\/p>\n<p>Based on <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass statistics<\/a>, Bitcoin long liquidations on centralized exchanges during the past 24 hours were approximately $41.5 million, out of a total of $50 million in Bitcoin position liquidations. With over $135 million coming from long holdings, the larger <strong>cryptocurrency market<\/strong> saw over $162 million in liquidations.<\/p>\n<p><a href=\"https:\/\/sosovalue.xyz\/assets\/etf\/us-btc-spot\">Data from Sosovalue<\/a> shows that the most recent downturn followed a week of net outflows from American spot Bitcoin ETFs totaling $276 million last week. Based on <a href=\"https:\/\/www.coinglass.com\/FundingRate\">CoinGlass data<\/a>, financing rates for bitcoin futures across derivatives exchanges have been negative throughout the slide, implying a gloomy view among traders presently.<\/p>\n<p>Moreover, with subsidies and fees bringing $851 million\u2014of which only $20 million came from on-chain fees\u2014Bitcoin miners&#8217; income in August fell to a new low for the year.<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for\u00a0<\/em><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the weekend, the market for cryptocurrencies slightly slumped. As of 07:00 UTC, Bitcoin is trading at $57,719, down 1.5% daily and almost exactly 10% over the past week. With a market capitalization of $1.1 trillion and a 54% market dominance, the biggest bitcoin keeps. The second biggest cryptocurrency, ether, is selling for $2,440 and<\/p>\n","protected":false},"author":6,"featured_media":8004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,2],"tags":[61,840,105],"class_list":["post-28263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-news","tag-bitcoin","tag-crypto-market","tag-ethereum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Market Slumps: Bitcoin Down 10% in a Week - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/crypto-market-slumps-bitcoin-down-10-in-a-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Market Slumps: Bitcoin Down 10% in a Week - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Over the weekend, the market for cryptocurrencies slightly slumped. As of 07:00 UTC, Bitcoin is trading at $57,719, down 1.5% daily and almost exactly 10% over the past week. With a market capitalization of $1.1 trillion and a 54% market dominance, the biggest bitcoin keeps. The second biggest cryptocurrency, ether, is selling for $2,440 and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/crypto-market-slumps-bitcoin-down-10-in-a-week\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-02T14:30:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-02T10:36:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/12\/Crypto-Market-Crashes.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/crypto-market-slumps-bitcoin-down-10-in-a-week\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/crypto-market-slumps-bitcoin-down-10-in-a-week\/\",\"name\":\"Crypto Market Slumps: Bitcoin Down 10% in a Week - 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