🚀 Over the past 24 hours, the cryptocurrency market fell by 1.76%. The main reason for the decline was a wave of large-scale liquidations that weakened market confidence, along with the effects of shared macroeconomic volatility.
1. Main reason: The closure of long positions, especially concentrated in the Bitcoin space, has led to the liquidation of extremely large Bitcoin positions. This has intensified selling pressure and caused key support levels to be broken.
2. Secondary reason: Ongoing selling by institutional investors of U.S. spot Bitcoin ETFs, as well as negative signals from technical indicators, have further exacerbated extreme panic sentiment in the market and also contributed to Bitcoin’s drop.
3. Short-term market outlook: The market direction depends on the U.S. Core Personal Consumption Expenditures (PCE) inflation report to be released on Thursday. Data higher than expected could cause prices to break below key support at $59,000; data lower than expected could trigger a technical rebound.
💥 Liquidation Alert:
In the past 24 hours, a total of 176,782 traders across the entire network were liquidated, with liquidation amounts totaling $994 million. Long liquidations totaled $781 million, and short liquidations totaled $212 million.
📊 Performance of major coins:
1. Bitcoin (BTC): Price is about 61651, down 1.83% in the past 24 hours
Bitcoin today is watching 60500. If it doesn’t break down, it should continue rebounding on the 1-hour timeframe. Resistance levels to watch are 61650, 63000, and 64500. If it gets close, you can look for opportunities to short.
If it breaks below 60500 and can’t reclaim it, that would mean this rebound phase is over. Most likely, it will test the lows again. Downside to watch is 59100, 57050, and 54700—once it reaches those levels, look for chances to go long.
2. Ethereum (ETH): Price is about 1646, down 1.50% in the past 24 hours
Ethereum is watching 1605 today. If it doesn’t break, it should keep rebounding. Targets above are 1645, 1680, and 1715—when it reaches them, place shorts.
If it breaks below 1605 and can’t reclaim it, the rebound is over and the price will likely move lower again. Support to watch is 1555, 1505, and 1450—once it reaches those levels, consider placing long positions.
3. BNB: Price is about 570, down 1.47% in the past 24 hours
BNB is watching 562 today. If it holds, it should keep rebounding. Look for short entry points at 572, 582, and 592. If it breaks below 562 and can’t reclaim it, the rebound is over. Support below is at 555, 546, and 535—once reached, plan your long positions.
4. SOL: Price is about 69, down 1.02% in the past 24 hours
SOL is watching 67 today. If it doesn’t break, it should keep rebounding. Short targets above are 70, 72, and 75. If it breaks below 67 and can’t reclaim it, it means the rebound is over and it will likely test the lows. Downside to watch is 65, 62, and 60—once reached, consider long positions.
🌡️ Market sentiment:
Today, the total cryptocurrency market cap is about $2.18 trillion, and the total trading volume in the past 24 hours is about $9.5 billion.
Current market sentiment is 18 (extreme fear). The market is bleak—panic, selling pressure, and anxiety everywhere on social media. It also matches the oversold condition indicated by technical indicators. But the more extreme the sentiment is, the more likely it is to fuel a rebound, especially when there are triggering events. Next, keep a close eye on the CMC Fear & Greed Index: if it can stay above 25 consistently, it could be a sign that fear has peaked and sentiment is starting to improve.
Today’s crypto gainers and losers ranking 🔥
📈 Top 3 Gainers:
1. BAS: Price $0.043229, up 39% in the past 24 hours
2. QUICK: Price $0.00909, up 30% in the past 24 hours
3. ATM: Price $1.883, up 23% in the past 24 hours
📉 Top 3 Losers:
1. M: Price $0.7144, down 75% in the past 24 hours
2. H: Price $0.07410, down 27% in the past 24 hours
3. RE: Price $0.6094, down 17% in the past 24 hours
✨ Performance of other major coins:
Dogecoin (DOGE): Price $0.07725, down 2.42% per hour
TRON (TRX): Price $0.3296, up 0.09% in the past 24 hours
Cardano (ADA): Price $0.1500, down 1.19% in the past 24 hours
Hyperliquid (HYPE): Price $63.568, up 2.39% in the past 24 hours
Avalanche (AVAX): Price $6.597, up 2.39% in the past 24 hours
Stellar (XLM): Price $0.1883, down 2.54% in the past 24 hours
Sui (SUI): Price $0.6937, down 1.53% in the past 24 hours
Chainlink (LINK): Price $7.524, down 1.62% in the past 24 hours
Hedera (HBAR): Price $0.07478, down 3.73% in the past 24 hours
Bitcoin Cash (BCH): Price $195.2, up 0.10% in the past 24 hours
Shiba Inu (SHIB): Price $0.00000443, down 3.06% in the past 24 hours
Litecoin (LTC): Price $41.99, down 0.12% in the past 24 hours
Pepe Hiba Inu (PEPE): Price $0.00000256, down 4.12% in the past 24 hours
Toncoin (TON): Price $1.606, up 3.15% in the past 24 hours