Over 45,000 traders have been liquidated in the past 24 hours as the cryptocurrency market took a turn for the worse. The meme coin industry, with BONK, PEPE, and FLOKI leading the charge, saw some of the biggest daily losses. Yesterday, CryptoPotato reported substantial gains from larger-cap cryptocurrencies like bitcoin, which jumped above $64,000 a couple of times. However, the asset failed to hold that level, and the bears took over, pushing BTC down to a 10-day low below $62,000.
Approximately 45,000 traders with heavy debt positions were forced to sell their cryptocurrencies within the last 24 hours due to another steep market downturn.
In the unpredictable world of meme coins, some of the most significant daily decliners can be found. Notably, BONK, PEPE, and FLOKI have been driving this downward trend.
Yesterday, CryptoPotato announced notable price increases for many larger cryptocurrencies. Bitcoin surpassed $64,000 on a few occasions.
I’ve noticed that despite some initial progress, the value of my crypto investment was unable to convincingly surpass that significant resistance level. Sadly, this opened the door for bears to reappear and drive down the price within hours. The primary digital asset plummeted to a 10-day low, dipping below $62,000.
As a researcher examining the current state of Bitcoin (BTC), I’ve observed that while it has regained some ground since, its price remains below par, with over a 2% decrease from its previous value.
As an analyst, I’ve observed that the situation surrounding altcoins has deteriorated further. Solana is spearheading this trend with a 5% drop, which has driven its price down to $136. Yesterday’s top performer, Ethereum, has retreated by 3.2%, and it’s currently battling to stay above the $3,200 mark.
It’s clear that there have been additional losses in the meme coin market. For instance, BONK has dropped by nearly 10%, PEPE has declined by around 8.5%, and FLOKI has experienced a loss of approximately 7.5%.
As an analyst, I can’t help but note that the recent market declines have taken a toll on over-leveraged traders. Regrettably, more than 45,000 speculative market participants were forced to exit their positions within the last 24 hours.
Approximately $100 million is the combined value of damages from various positions that have been wrecked. The most substantial loss, approximately $3 million, occurred on OKX.
In spite of the pessimistic outlook prevailing in the market, Bitcoin exhibits certain encouraging indicators and advancements that could potentially halt its current slide.
Read More
- UFO PREDICTION. UFO cryptocurrency
- Finding Resources in Palworld: Tips from the Community
- AAVE PREDICTION. AAVE cryptocurrency
- The Last Epoch Dilemma: Confronting the Gold Dupe Crisis
- BONE PREDICTION. BONE cryptocurrency
- Celebrating Hu Tao’s Birthday in Genshin Impact
- Skull and Bones: Gamers’ Frustrations with Ubisoft’s Premium Content Delivery
- Michelle Yeoh Will Not Appear in ‘Avatar 3,’ Says James Cameron: ‘She’s in 4 and 5’
- DF PREDICTION. DF cryptocurrency
- Abiotic Factor: Players Discuss the Need for Quick Character Adjustments in-game
2024-04-29 09:02