BTC, ETH, SOL and Major Altcoins Begin Asia Business Day in Deep Red

Bitcoin

(BTC),
ether

(ETH),
sol

(SOL)
and
many
major
altcoins
began
the
Asia
trading
day
in
the
red
as
the
week
opened
with
volatility.

Bitcoin
was
down
as
low
at
5%
over
a
24-hour
period,
trading
at
$41,300,
before
recovering
to
$42,000,
according
to

CoinDesk
Indices
data.
Ether
hit
a
low
of
$2,170
before

climbing
back
up
to
$2,239.
Solana
was
down
to
$66

before
climbing
back
to
$70.
Most
of
these
losses
took
place
within
the
last
90
minutes,
as
of
press
time.

The
CoinDesk
Market
Index
(CMI)
is
down
4%
to
1,743.

Coinglass
data
shows
that
there
had
been
over
$335
million
in
liquidations
over
the
last
12
hours
with
$300
million
in
long
positions
getting
liquidated.

Bitcoin
and
Ether
lead
the
way
in
the
liquidation
heatmap
with
over
$89
million
in
bitcoin
positions
getting
liquidated
and
$74
million
in
ether.

On-chain
analyst
Willy
Woo
wrote
on
X
that
the
market
may
see
a
correction
in
bitcoin
prices
down
to
$39,700.

The
Bitcoin
CME
Gap
at
39.7k
refers
to
a
situation
where
bitcoin’s
price
on
the
Chicago
Mercantile
Exchange
jumped,
leaving
a
gap
at
$39,700,
and
historically,
such
gaps
usually
get
filled,
meaning
the
price
often
returns
to
this
level.
Price
gaps
in
the
CME
futures
market
for
bitcoin
occur
due
to
its

hours
of
operation
being
aligned
with
U.S.
trading
hours,
leading
to
potential
price
differences
at
market
open
and
close.