Bitcoin, Ethereum, and Solana Decline as ZKC Surges Nearly 66%

Bitcoin and Ethereum saw sharp declines on October 17, with global liquidations exceeding $1 billion, as market sentiment hits panic levels.

BTC

ETH

SOL

55d ago

Summary

Bitcoin dropped to around $104,500, nearing its October 11 crash low, while Ethereum and Solana also saw notable losses. The crypto market faced $1.189 billion in liquidations, with significant outflows from U.S. Bitcoin and Ethereum spot ETFs. Analysts warn of a possible deeper retracement for Bitcoin if it drops below $99,900.

Terms & Concepts

Bitcoin Spot ETF: A financial product that allows investors to gain exposure to Bitcoin without directly purchasing the cryptocurrency, by trading Bitcoin on the stock market.
365-Day Moving Average: A statistical indicator that calculates the average price of an asset over the past 365 days, often used to identify trends and potential support or resistance levels.
Liquidations: The forced sale of assets or positions in financial markets, often triggered by margin calls or stop losses during periods of high volatility.