Bitcoin Dips Below $25K, Ripple (XRP) Plummets 5% Daily as Market Pulls Back
Bitcoin slid to $25,000 on Monday, after a period of flat trading over the weekend at roughly $25,800.
Other digital assets followed suit, with XRP down 6% on the day to just $0.47.
- The drop marks Bitcoin’s lowest price level since mid-June when the asset reeled from back-to-back U.S. government lawsuits against two of the world’s largest crypto exchanges, Coinbase and Binance.
- The asset rallied when BlackRock filed for a Bitcoin spot ETF days later, and again when Grayscale won its lawsuit against the SEC in August, though excitement around both events appears to have faded.
- Likewise, XRP has now lost all gains made since Ripple bested the SEC in court, with the asset now trading for the same price it did on July 12 – a day before the ruling.
- According to CoinGlass, over $150 million in crypto trades have been liquidated over the past 24 hours, including over 41,000 traders.
- The largest single liquidation was on a BTC/USD trade for $8.96 million.
- Telegram’s Toncoin (TON) also slid by 6.5% to just $1.63, its lowest price since last month.
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