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Price analysis 8/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, LTC

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© Reuters.

A tight range usually resolves with a range breakout, and that is what happened in on Aug. 17. Bitcoin (BTC) fell sharply, resulting in $1 billion in liquidations for derivatives traders, the biggest amount since the FTX collapse in 2022.

It is difficult to pinpoint any specific reason for the sell-off, but analysts believe that the confusion arising from the alleged write-down of SpaceX’s $373 million i Bitcoin holdings may have been one of the potential triggers.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
MATIC/USDT daily chart. Source: TradingView
LTC/USDT daily chart. Source: TradingView

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