Bitcoin, Ethereum, Dogecoin, XRP Slide As Crypto Liquidations Top $500 Million: Analyst Says This Is What Is In Store For BTC In The Current Quarter

Leading cryptocurrencies fell further, while stocks barely changed on Monday as investors trimmed risk appetite.Disclosure: 82% of retail CFD accounts lose moneyMore Than $400 Million In Longs LiquidatedBitcoin sank below $115,000 early morning but recovered to above $117,000 by evening. Trading volume jumped nearly 50% over the last 24 hours.Ethereum also rebounded to $4,400, but the rally could not be sustained, pushing the coin back to the early $4,300s overnight. XRP and Solana fell 0.15% and 2.50%, respectively.ETH's dominance rose to 13.3%, while Bitcoin's market share dropped below 59%.Over $535 million was liquidated from the market over the last 24 hours, with long positions accounting for $436 million. Around $422 million in BTC longs risk liquidation if the coin slips below $114,000.Bitcoin's open interest fell 1.24% over the last 24 hours. Meanwhile, over 57% of Binance traders with open BTC positions were betting in favor of the coin's rally.The "Greed" sentiment dropped further to 56, according to the Crypto Fear & Greed Index, signaling an increase in selling pressure.Top Gainers (24 Hours)The global cryptocurrency market capitalization stood at $4.02 trillion, following a decline of 3.87% in the last 24 hours.All Eyes On Jerome PowellStocks were little changed on Monday. The Dow Jones Industrial Average fell 34.30 points, or 0.08%, to close at 44,911.82. The S&P 500 dipped 0.01% to close at 6,449.15. The Nasdaq Composite was the outlier, closing up 0.03% at 21,629.77.Investors are looking forward to Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Policy Symposium on Friday for signals on monetary policy.Traders are pricing in an 83% chance that the central bank cuts interest rates at its September meeting, according to the CME FedWatch tool.Will Whale Accumulation Power Bitcoin Up?On-chain analytics firm Santiment stated that Bitcoin whales have been accumulating since the dip from last week's all-time high."With prices -6.22% since August 13th, wallets with 10-10,000 BTC have accumulated 20,061 more coins," Santiment added.The firm indicated a "notable correlation" between the cohort's holdings and BTC's future price movement.Widely followed cryptocurrency analyst BitBull highlighted the "worst case scenario" for the apex cryptocurrency"It’ll continue to consolidate between $112,000-$120,000 in Q3, while alts will head higher. We could even see a capitulation wick below $112,000, just like we had a pump above $124,000," the analyst projected.Photo Courtesy: Volodymyr Maksymchuk on Shutterstock.com This Ethereum Trader Turned $125,000 Into $29.6 Million In 4 Months