|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Crypto Market Suffers Price Drop as Liquidations Soar, Shiba Inu and Dogecoin Thrive
Apr 02, 2024 at 05:00 pm
Large-scale liquidations on Binance and retail-heavy exchanges have likely spurred the recent decline in Bitcoin and Ethereum prices. Approximately $157 million in derivatives positions were liquidated within an hour on Tuesday, signaling a potential market correction.
Crypto Market Suffers Price Declines as Liquidations Surge, Meme Coins Defy Trend
The cryptocurrency market experienced a significant downturn on Tuesday, with Bitcoin (BTC) and Ethereum (ETH) prices plummeting amid a wave of liquidations. Derivatives positions worth nearly $157 million were liquidated within an hour on the Binance exchange, contributing to the price declines.
Analysts at QCP Broadcast, a crypto trading firm, attributed the price drops to large-scale liquidations on retail-centric exchanges. The perpetual funding rate on platforms like Binance also plummeted, indicating downward pressure on spot market prices.
Options Market Signals Correction
Prior to the price declines, the crypto options market had hinted at a potential correction. Analysts at QCP Broadcast noted that the speed of Bitcoin and Ethereum's price drops was in line with the volume of liquidations on Tuesday.
Meme Coins Post Gains
Despite the broader market correction, Solana-based meme coins bucked the trend and posted double-digit gains. Data from CoinGecko revealed that Tombili the Fat Cat (FATCAT), catwifbag (BAG), BaoBaoSol (BAOS), Cat in a dogs world (MEW), and Book of Meme (BOME) prices surged between 10% and 52% over the past 24 hours.
Meme Coin Volatility
Meme coins have historically exhibited high volatility, with sharp gains often followed by equally sharp corrections. Traders should approach these tokens with caution due to their speculative nature and susceptibility to rug pulls, pump-and-dump schemes, and mass sell-offs.
Post-Correction Trading
QCP Broadcast analysts anticipate that Bitcoin and Ethereum prices will stabilize after the correction. However, traders should monitor market sentiment and technical indicators to identify potential trading opportunities.
Conclusion
The recent price declines in the crypto market highlight the risks associated with derivatives trading and the volatility of meme coins. Traders should exercise prudence and conduct thorough research before making investment decisions. As the market continues to evolve, it is essential to stay informed about key indicators and trends to navigate the ever-changing crypto landscape.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- AkzoNobel to cut more than 5% of global workforce by end of 2025
- Sep 25, 2024 at 06:15 am
- The Dutch group, which has operations in 150 countries including the UK, said it will “streamline” its management structure through the cuts.
-
- EasyA x Polkadot University Launches to Educate the Next Generation of Blockchain Developers
- Sep 25, 2024 at 06:15 am
- EasyA, the world's leading blockchain education platform, proudly announces the launch of its EasyA x Polkadot University. This will be the world's first university focused on educating the next generation of blockchain developers.
-
- Fantom (FTM), ImmutableX (IMX), Helium (HNT) Price Analysis for the Upcoming Week
- Sep 25, 2024 at 06:15 am
- With the BTC price stabilizing above the $63,000 level, top cryptocurrencies have regained momentum with major altcoins breaking out of their respective resistance levels.
-
- Valhalla Partners with Alliance to Introduce Web3 Gaming to Esports Audience
- Sep 25, 2024 at 06:15 am
- Floki is proud to announce that Valhalla, an innovative Web3 play-to-earn game, is in a groundbreaking partnership with Alliance, a leading global esports organization.
-
- Valhalla Partners with Alliance to Introduce Web3 Gaming to Esports Audience
- Sep 25, 2024 at 06:15 am
- Floki is proud to announce that Valhalla, an innovative Web3 play-to-earn game, is in a groundbreaking partnership with Alliance, a leading global esports organization.
-
- FLOKI Price Prediction: Can It Double From Here?
- Sep 25, 2024 at 06:15 am
- FLOKI's price has surged 287.29% over the past year and nearly 15% in the past seven days, making it the fifth-largest meme coin on the market.
-
- Bitcoin (BTC) Price Pushes Past $64K as Monetary Ease Expectations Grow
- Sep 25, 2024 at 06:15 am
- Traders Tuesday pushed the chances of a second consecutive 50 basis point rate Fed rate cut up to 61%.
-
- Hogwarts Legacy Daedalian Key Locations Guide: Where to Find All 16 Winged Keys
- Sep 25, 2024 at 05:55 am
- Tracking down all Daedalian Key locations can be daunting in Hogwarts Legacy, owing to the massive size of the richly detailed wizarding school in Avalanche
-
- Polymarket Seeks $50M Boost as Election Betting Hits Record
- Sep 25, 2024 at 04:45 am
- Polymarket, the top decentralized prediction platform, is capitalizing on a massive surge in 2024 U.S. election betting.