Bitcoin And Ethereum Plunge Brings The Whole Market Down

The Merge hasn’t pushed crypto prices as expected. Instead, the third week of September has kicked off with more reds than greens. The entire market has plunged, and even the overall market cap dropped. Currently, many crypto assets are losing every hour. Many crypto exchanges are forcefully liquidating leveraged positions. According to Coinglass, the total amount liquidated already has reached $431.51 million, with 130,087 traders affected. Related Reading: These Two On-Chain Signals Precede Bitcoin Falls, Suggests Analyst Bitcoin Price Plunged Currently, the Bitcoin price stands at $19,326, indicating a 2.38% loss in 24 hours. Even though its one-hour price gain shows progress at 1.07%, BTC has lost 13.58% in one week. Bitcoin traded above $20K from September 10 to 14 before the Ethereum Merge. A few minutes after the upgrade, it lost grip on the price mark and fell to $19,701. It maintained that level until September 17, when it closed the market once again above $20k But this third week of September pushed BTC to $19k as the overall market opened in the red. Ethereum Crashed After the Merge Today September 19, the Ethereum price stands at $1,359.13 after losing 4.26% in 24 hours. But this is not the whole story. ETH’s price crashed after the Merge on September 15. Before the upgrade, Ether traded above $1700K from September 10 to September 13 before plunging to $1574 one day before the merge. At the close of th...