Crypto Market Crash: $1. 6 Billion in Liquidations:💥🔥🔥🔥
Key Factors
, Bitcoin Price Drop: Bitcoin (BTC) fell to as low as $$75, 000 with a 6. 17% drop. The trading price is presently $78, 383. 46.
, Market Capitalization: The overall market capitalization of cryptocurrencies has fallen to $2. 7 trillion, with a 5. 5% decline in the last 24 hours to $2. 63 trillion.
, Liquidations: The total liquidations exceeded $1. 6 billion, with Bitcoin liquidation surging to $570 million, and over $554 million worth of Ethereum positions were liquidated.
Major Coins Affected
, Ethereum (ETH): Went down to a low of $2, 300, with a massive 9. 49% drop.
, Solana (SOL) and XRP: Took a significant hit and losses, which reflected the overall market decline.
Investor Sentiment
, Crypto Fear and Greed Index: Still remained red as it crashed to the fear zone at 26.
, Investor Concerns: Investors fear Trump's nomination of Kevin Warsh as the Federal Reserve Chairman and possible attacks on Iran that might result in higher crude oil prices and, therefore, market volatility.
Market Outlook
The crypto market remains shaky as the investors keep a close eye on ETF withdrawals and possible macroeconomic trigger events.
Potential implications of Kevin Warsh's nomination on the crypto market
Continued ETF outflows could negatively affect crypto investor sentiment and market trends, as they are likely to reduce liquidity and increase volatility in the market.
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#btc #sol #eth #xrp $XRP $SOL $BTC