---
title: "Bitcoin, Ethereum Tank to Monthly Lows, Leaving $200 Million in Liquidations"
url: https://diffcoin.com/bitcoin-ethereum-tank-to-monthly-lows-leaving-200-million-in-liquidations/
description: "Over 70,000 traders have been wrecked in the past day."
published: 2024-09-04
updated: 2024-09-04
author: "Mila"
site: "Diffcoin"
---

# Bitcoin, Ethereum Tank to Monthly Lows, Leaving $200 Million in Liquidations

Yesterday’s minor relief rally quickly came to a halt as the entire market turned red once again. Bitcoin and Ethereum both dumped to monthly lows before recovering slightly.

This has caused roughly $200 million in liquidations for over-leveraged traders, with the largest single-wrecked position worth nearly $3 million.

*CryptoPotato* reported yesterday the minor price gains charted from most assets, which included BTC nearing $60,000 for the first time in days. ETH was also a good performer, as it jumped to $2,550.

However, the landscape has changed entirely today, perhaps driven by the fear in the US stock markets, as mentioned earlier.

Bitcoin was rejected before even having the chance to tap $60,000, but it went even further south today, dropping to $55,600 (on Bitstamp). The last time the asset stood at such a low level was during the early August crash.

![Bitcoin/Price/Chart 04.09.2024. Source: TradingView](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxODM1IDgxOSIgd2lkdGg9IjE4MzUiIGhlaWdodD0iODE5IiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNCUyRjA5JTJGQlRDVVNELTMucG5nIiBkYXRhLXc9IjE4MzUiIGRhdGEtaD0iODE5IiBkYXRhLWJpcD0iIj48L3N2Zz4=)

Bitcoin/Price/Chart 04.09.2024. Source: TradingView

Ethereum lost over $200 in a day, from nearly $2,550 to $2,300. Despite recovering some ground and now trading at $2,370, the second-largest crypto is still 5.5% down on the day.

The situation with the altcoins is even more painful on some occasions. TON, for example, has shed 8% of value, NEAR is down by 7%, while ADA, SOL, and AVAX have slipped by 6%.

As a result, over 73,000 over-leveraged traders have been wrecked in the past day, with the total value of liquidated positions standing close to $200 million, according to CoinGlass.

The single-largest one took place on Binance and was worth almost $3 million. It involved the ETH-USDT trading pair.

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[Source link](https://cryptopotato.com/bitcoin-ethereum-tank-to-monthly-lows-leaving-200-million-in-liquidations/)