According to information disclosed a few hours ago on the C ointelegraph portal, the month of "August was the worst month for the cryptocurrency markets since Bitcoin hit its lowest point in November 2022."
In this sense, we can assure "what many initially perceived as a simple summer slump turned into a steep market decline as settlements were triggered in the derivatives market, wiping 7.3% off the value of BTC and 6.9% off the value of ETH."
It should be remembered that "Grayscale's court victory was only a temporary reprieve from these losses, as the price retreated back to the levels it started the month at. This caused one of the largest liquidation events in cryptocurrencies, with more than USD 1 billion lost as the price fell to USD 26,000".
It is worth noting that "Cointelegraph's Research department is made up of some of the best talent in the blockchain industry. Bringing together academic rigour and filtered through hard-won practical experience."
On the other hand, "the team's researchers are committed to providing the most accurate and insightful content available in the market"
SOURCES CONSULTED
Cointelegraph. Liquidation cascade puts crypto market into shock: Report. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
