Bitcoin plunged $7,000 from the top at $34,800 liquidating future longs worth over $1 billion.
Ethereum also dropped 23% as over-leveraged long positions in the crypto market favored the bears.
Despite negative prices, market sentiments continue to be positive.
Ethereum has been consolidating alongside Bitcoin throughout the past several days, struggling to break above the heavy resistance that has been formed at $400
This consolidation phase has offered little insight into the cryptocurrency’s near-term outlook
Analysts are now noting that ETH may be wel