China News by Thebittimes.Com

The digital asset sector was met with a harrowing reality Tuesday morning, as Bitcoin liquidations have surpassed the $500 million market amid a down crypto market. Indeed, the leading cryptocurrency fell drastically amid ongoing geopolitical tensions arising in the Middle East. The development has certainly been difficult for traders who expected a much different start to October. There had been rumblings that BTC would return to its $70,000 yearly highs with ‘Uptober‘ nearing. Yet, those kinds of levels are certainly in jeopardy amid the current state of the market. Also Read: Stay Ahead: Metaplanet’s ¥1 Billion Bitcoin Purchase Explained BTC Liquidations Reach $500 Million as October Gets Off to Horrid Start After struggling throughout the summer months, fall was meant to get Bitcoin back on track. The asset got off to a hot start in 2024. January saw it become the first crypto-based ETF in the United States. Just three months later, it would reach a record price of $73,0...

Ripple underwent a major correction over the weekend, and its price tanked to $0.59 at press time. XRP was trading at $0.61 and was pushed to lower levels of $0.57 before eventually catching up and hitting $0.59. At press time, the token is down 0.93%, and it seems like it may recover its lost momentum soon. But what caused its correction, and why is it important to know? Let’s find out. Also Read: Cryptocurrency Domain Gains New Ally As Kamala Harris Steps In XRP Plummets Due To Ripple’s Co-Founder 40M Transaction: What’s Happening Despite its major win against the US SEC, the price of Ripple is still undergoing a vital consolidation phase. The token is yet to hit a significant price milestone and is consistently battling an intense resistance level of $0.60 to adopt a bullish pace ultimately. In the middle of it, XRP co-founder Chris Larsen’s wallet was found making an online transaction. The recent transactions have become a centre of speculation and scrutiny, shedding li...