Bitcoin (BTC) touched lows near $58k as cryptocurrencies witnessed a sharp sell-off. 0DOG token tumbled amid Bitcoin’s losses.

Bitcoin dived more than 6% in the past 24 hours to trade near $58,000. The crypto market capitalization also tumbled as a sea of red engulfed altcoins Major altcoins saw huge declines to push the total market cap down more than 7% to $2.16 trillion. Meanwhile, Bitcoin Dogs fell sharply as Ethereum, Solana, Pepe, and Polygon nosedived. Bitcoin slumps amid huge liquidations BTC briefly traded at lows of $58,090 on Bitstamp and $58,025 on Coinbase on Wednesday morning before a slight recovery pushed it to above $59.2k.

While there hasn’t been a clear catalyst for the crypto sell-off, the widespread losses suggest a broader weakness for risk assets.  Santiment analysis also suggests the latest retracement follows huge bets on upside momentum. The greed that hit the market on August 25 has seen a swift reaction in liquidations, the market intelligence and on-chain analytics platform wrote on X. Data from Coinglass shows total crypto liquidations have jumped 208% in the past 24 hours to over $330 million. Most of this, about $295 million, are long positions and over 90,800 traders have been liquidated in this period as a result. The largest liquidation is an ETH/BTC position at $12.67 million on Binance. Bitcoin Dogs mirrors BTC sell-off While Ethereum has dropped more than 9% to under 2,450, Solana is changing hands near $144. Polygon, Pepe and Sui have shed double digits. Bitcoin Dogs, a cryptocurrency that recently launched on major exchanges Gate.io, MEXC and Uniswap, is also mirroring the downside action.

0DOG price has dropped sharply from its highs of $0.04934 reached on August 22 to currently trade at $0.01006. The token has seen a massive 54% slump in 24 hours, which highlights how impactful a sharp drop in the prices of top cryptocurrencies can be for related tokens. What next for BTC, 0DOG? At the time of writing, BTC traded around $59,220, still in the red. Bears may extend the decline in BTC price, with lows seen on August 5 a likely support level. This same scenario could play out for Bitcoin Dogs, which made history with the first-ever BRC-20 token presale on the Bitcoin network. The gaming and NFT project taps into BTC’s growing layer-2 market and is likely to bounce alongside the flagship cryptocurrency. But what would indicate a potential for reversal? “When funding rates get extreme in either direction, they are always prone to get liquidated and shoot markets in the opposite direction. Look for funding rates to stabilize (or potentially even start leaning toward a short bias) as a sign that BTC and other assets will start to bounce again,” Santiment observed. The downside may therefore provide an opportunity to buy low. Learn more about Bitcoin Dogs first by visiting their website.

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Cryptocurrency organization, Floki, has announced a partnership with University of Miami Athletics.  Floki is proud to announce that Valhalla, a groundbreaking MMORPG (Massively Multiplayer Online Role-Playing Game), will be at the forefront of a high-profile, multi-year partnership with the University of Miami Athletics Department. This groundbreaking partnership will see Floki and Valhalla messaging prominently displayed across University of MiamiAthletics.  “We are very excited for this partnership with Floki” said Hurricane Global Partnerships Senior Vice President Chris Maragno. “They share in our commitment to excellence and our continual efforts to elevate the Miami Hurricanes fan experience, and we look forward to bringing this partnership to life.” The multi-year agreement will showcase Floki’s immersive NFT metaverse game, Valhalla, through unique content and promotions with the Hurricanes, showcased across social, digital and in-venue platforms.  To kickoff this partnership, Floki is donating to Canes Connection, the Official NIL Collective of the Miami Hurricanes, for every field goal made by the Hurricanes during the football season.  ABOUT FLOKI Floki is the people’s cryptocurrency and utility token of the Floki Ecosystem. Floki aims to become the world’s most known and used cryptocurrency, focusing on utility, philanthropy, community, and marketing. Floki currently has over 490,000 holders and a strong brand recognized globally thanks to strategic marketing partnerships. Learn more at floki.com.  ABOUT UNIVERSITY OF MIAMI ATHLETICS The University of Miami’s Department of Intercollegiate Athletics, a member of the National Collegiate Athletic Association (NCAA) and the Atlantic Coast Conference (ACC), supports more than 400 student-athletes across 18 sports. Miami has won 21 team national championships and 85 individual national championships in its storied history. UM Athletics is dedicated to developing and supporting its student-athletes in their efforts to achieve personal, academic, and athletic excellence, resulting in the highest standards of achievement. For more information visit www.miamihurricanes.com.  ABOUT LEGENDS Founded in 2008, Legends is a premium experiences company with six divisions operating worldwide – Global Planning, Global Sales, Global Partnerships, Hospitality, Global Merchandise, and Global Technology Solutions – offering clients and partners a 360-degree data and analytics fueled service solution platform to elevate their brand and execute their vision. Currently, Legends works with marquee clients across business verticals including professional sports; collegiate; attractions; entertainment; and conventions and leisure. We are the industry leaders in designing, planning and realizing exceptional experiences in sports and entertainment. For more information, visit www.Legends.net and follow us on Facebook, Twitter and Instagram @TheLegendsWay. ABOUT VALHALLA Valhalla is a spin on the classic Creature-Collection adventure set in a vibrant, lively, MMORPG open-world inspired by Norse mythology. Players interact with a diverse set of eccentric creatures called Veras, discovering, taming, training and trading them. Alone or as a clan, players partake in a dynamic, player-driven economy to rise in community ranks and achieve tactical supremacy on the hexagonal-grid battlefield. Learn more at valhalla.game. Website: https://www.floki.com/  Youtube: https://www.youtube.com/@FlokiOfficial  Telegram: https://t.co/vBZd3lbFQK  Instagram: https://www.instagram.com/floki_crypto/ Tik Tok: https://www.tiktok.com/@floki_crypto  Discord: https://discord.com/invite/floki  Facebook: https://www.facebook.com/groups/290420602797109/?ref=share   Reddit: https://www.reddit.com/r/Floki/  Twitch: https://www.twitch.tv/officialfloki  Valhalla Game: https://valhalla.game/

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