U.S. Stocks Open Bitcoin, Ethereum Accelerate Decline After Mahji Sells Off to Avoid Liquidation

BlockBeats News, July 17th, according to an exchange market data, after the opening of the US stock market today, Bitcoin and Ethereum accelerated their decline. As of the time of writing, Bitcoin was trading at $62,554.81, with a nearly 0.84% drop in the past hour. Ethereum, on the other hand, was struggling to hold above $1,800 and was now at $1,810.62.

As a result, the "Whale" rapidly and significantly reduced its Ethereum long positions in the past hour. According to HyperInsight monitoring, its leveraged Ethereum long position of 25x leverage has now decreased to 3,500 ETH, worth $6.338 million. The liquidation price for its long positions has also dropped to $1,795.49, less than 1% away from the current price.