Sales of Bitcoin and Ethereum futures over the past few hours are among the reasons why Bitcoin pushed below the $ 40,000 level and caused Ethereum to fall below $ 3,000.
As Chinese crypto journalist Colin Wu reported, Coinglass announced that a total of $ 110 million in Bitcoin and Ethereum transactions are liquidated through crypto exchanges.
Of this total, $ 57.25 million was liquidated in Bitcoin and $ 38.03 in Ethereum. The major cryptocurrency is now changing hands at $ 39,821, with Ethereum trading just under $ 3,000, while BTC and ETH are struggling together.
BTC fell 2.35% in the last 15m. According to coinglass, the liquidation has reached $ 110 million in the past half hour, of which $ 57.25 million is in BTC and $ 38.03 million in ETH. An ounce of BTC fell by $ 40,000, and an ounce of ETH by about $ 3,000.
– Wu Blockchain (@WuBlockchain) January 10, 2022
Banking giant Goldman Sachs has announced that the Federal Reserve could increase interest rates by 4 instead of 3 as previously announced. The rise in interest rates could happen as early as March and push the cryptocurrency market further into the bear market.