🚀 Cryptocurrency Market Experiences $232 Million Liquidation in 24 Hours
The cryptocurrency market saw significant liquidations totaling $232 million over the past 24 hours. According to Foresight News, data from CoinAnk reveals that long positions accounted for approximately $144 million of the liquidations, while short positions amounted to around $88.17 million. Bitcoin liquidations reached about $68.95 million, and Ethereum liquidations were approximately $35.32 million.
#cryptocurrency#market#liquidation#bitcoin#ethereum#ForesightNews#CoinAnk#BTC#ETH
#Market Update📈
Bitcoin Sentiment Analysis
The sentiment around Bitcoin today is quite positive, with 60% of the last 20 news media mentions being positive. This indicates a generally optimistic outlook on Bitcoin from the media. However, as always, it's important to consider multiple factors when analyzing the market.
Bitcoin Price Analysis
As of today, the price of Bitcoin in USD is approximately $30,660. This represents a slight increase of 0.94% over the past 24 hours. The recent price action in Bitcoin has left the token's market capitalization at approximately $595 billion.
Bitcoin Technical Analysis
Looking at the 4-hour chart, Bitcoin is currently in a consolidation phase. The price is hovering around the $30,660 mark, with resistance at around $31,000 and support at around $30,000. The Relative Strength Index (RSI) is currently at a neutral level, indicating that the market is neither overbought nor oversold leaving possibilities on both sides.
The Moving Average Convergence Divergence (MACD) is showing a signs of a bullish crossover, indicating potential upward momentum in the short term. Volume has been relatively low but is steadily increasing, meaning that the unconvinced market will soon make a decision.
Also, the descending channel we are in is a bullish chart formation that would ideally propel the price to levels above the resistance at 31k .
In conclusion, while the sentiment and price analysis show a positive outlook for Bitcoin, the technical analysis suggests that Bitcoin is currently in a consolidation phase. Traders should keep an eye on key resistance and support levels, as a breakout in either direction could signal the next significant price movement. As always, it's important to consider multiple factors and use proper risk management when trading.
https://www.tradingview.com/x/RqOa4cDe/
Liquidation Map Analysis 🗺️
1️⃣ Main Liquidation Zones:
-⬆️Shorts: 98064
-⬇️Longs: Around 95474
2️⃣ Key Price Levels:
- Big clusters at 95474 & 98064.
- Smaller clusters scattered, creating volatility potential.
3️⃣ Imbalance:
- More short liquidations concentrated ⬆️ than long liquidations ⬇️ near current price.
4️⃣ Potential Moves:
- Price could be drawn ⬆️ to clear short positions at 98064.
- Downside risk to 95474, where long liquidations could fuel a drop.
5️⃣ Trader Takeaways:
- 🤔 Avoid stops near 95474 & 98064! Potential stop hunts!
- ⚠️ Be ready for volatility if price approaches these zones.
-📈 A break above 98064 could trigger a short squeeze.
-📉 A drop below 95474 could trigger long liquidations cascade. #trading#crypto#liquidation
#Market update focused on altcoins.
Before we start this update let's first look at some context for #BTC.
Fundamentally we have huge ETFs in the works like BlackRock, Fidelity, Volatility works just to name a few.
A complete list of Bitcoin ETFs here: https://etfdb.com/themes/bitcoin-etfs/
Institutionals are boarding either through ETFs or through direct purchases, bottom line is that big money is entering crypto.
All this is bullish and should weigh in our trading decisions for the months to come.
Technically, BTC is in a slightly descending range. As previously mentioned this is typically a bullish formation and we should expect upsides that break the 31.4k local resistance. Support is strong with good volume at $30k.
BTC chart - https://www.tradingview.com/x/7ncYnW9L/
Altcoins that are interesting today:
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#ETH Trendline Breakdown (4h)
#BTC Bollinger Breakdown (4h)
Our algorithms work 24/7 to detect strategy on the charts of cryptos such as #bitcoin and #ethereum.
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The #Ethereum network is experiencing an increase in the number of the largest wallets with at least 10 thousand #ETH. Apparently, experienced investors have now switched to accumulation, which is also observed in the case of #Bitcoin.
And this is a good sign for the future of the market.
🚨 $ETH Liquidation Map Analysis 🚨
1️⃣ Main Liquidation Zones:
*⬇️ Longs: Big cluster around 2000-2400. Ouch!
*⬆️ Shorts: Noticeable stacks building up starting from 2800 up to 3200
2️⃣ Key Liquidation Levels:
* 2000: Major Long liquidation zone🤯
* 3000-3200: Accumulation of short liquidations 🤔
3️⃣ Imbalance:
*More significant Long liquidations below current price vs. shorts above. Bearish signal?🐻
4️⃣ Potential Price Moves:
* Price could drop to grab liquidity at 2000-2400 before any potential bounce.
* If price goes up, it could trigger a cascade of short liquidations towards 3000-3200🚀
5️⃣ Trader Takeaways:
* Avoid placing stops near 2000, potential for stop hunts! 🚫
* Watch price action around 3000-3200 for breakout/reversal signals.👀
* Consider front-running potential moves near major liquidation zones. 🎯
#ETH#Crypto#Trading#Liquidation#Kingfisher
Fans of the TON #cryptocurrency now have a new way to trade their favorite altcoin following its addition to the options trading markets on the popular exchange platforms BIT and Paradigm.
The options are live on the platform today and will be available on the institution-focused liquidity network Paradigm later, the exchange said in a statement shared with CoinDesk.
The options are launched in collaboration with liquidity provider Darley Technologies and blockchain industry market maker and TON-backer DWF Labs.
"Joining the options market is a logical and important step for TON because, until now, the only coins available there were BTC and ETH. It means TON will take its place alongside crypto's most prestigious coins," said Andrei Grachev, Managing Partner at DWF Labs.
Full read here: https://lnkd.in/g6zACNN7
Commissions on the #Ethereum network have reached their lowest level in 5 years — now transactions cost only $0.168.
This is the lowest daily transfer cost of $ETH since May 2, 2020.
By the way, this is also an indicator of people's activity. 👹👹👹