A huge waterfall, this will be another dark moment for the crypto industry.
The market fell across the board, BTC fell below $53,000, ETH fell below $2,120, SOL fell below $122, and market sentiment turned to fear.
Among them, ETH experienced the largest single-day drop of more than 26%.
In the past hour, the total amount of liquidation in the entire network reached 401 million US dollars, the amount of long orders liquidated was 351 million US dollars, and the amount of short orders liquidated was 50.13 million US dollars. Among them, the amount of BTC liquidation was 106 million US dollars, the amount of ETH liquidation was 165 million US dollars, and the amount of SOL liquidation was 11.42 million US dollars.
Currently, USDT has a significant premium on the C2C platforms of Binance and OKX. The price of USDT on OKX is around 7.6 yuan, a premium of 6.3%; the price of USDT on Binance is around 7.5 yuan, a premium of 4.9%.
On the one hand, this plunge is due to the fact that crypto assets successfully rose to $70,000 after the Trump craze and the ETH spot ETF craze, but then lacked hot spots and narratives. On the other hand, it is obviously related to the overall decline of the financial market. Some macro situations are as follows:
The Nikkei experienced its biggest two-day drop in history, surpassing Black Monday;
Nasdaq 100 futures extended losses to 2%;
Berkshire Hathaway has sold more shares this quarter than ever before. The market sees this as a major danger sign of a recession;
Bond traders appear to be betting that the U.S. economy is on the verge of deteriorating;
The United States informed the G-7 that Iran might attack Israel within the next 24 hours;
The following is the analysis of KOLs on social networks and their judgment on the future market, compiled by Followin.
This kind of plunge caused by external panic has two characteristics: first, it is a deep drop, and second, it is unsustainable. In fact, neither the war risk nor the economic risk is out of control.
——Meng Yan, founder of Solv Protocol
Panic spreads: Nikkei index was directly circuit-breakered at opening; Buffett sold off Apple's U.S. stocks. Apple opened 8 points lower in the night session and was the last big technology stock to have its valuation killed. It is estimated that the broader market will also be dragged down (after all, Apple's weight in Nasdaq and S&P is not low).
——qinbafrank@qinbafrank
The 4h-level ASR-VC indicator confirmed the turn to a bearish trend, which made the short green bullish trend on the left a bullish market. The three consecutive false breakthroughs of the price near the orange line may be a sign. It seems that the indicator's long and short judgment logic needs to be modified.
According to past rules, the 4h market is very strong. If the price falls below the lower track of the blue support band, it will trigger a more extreme market, with the target at the lowest green oversold line;
After a big drop, when others are greedily buy the dips, you should remain in awe of the market and at least wait for a small bottom range to be broken before buy the dips at the bottom, right?
——Crypto_Painter @CryptoPainter_X
I think anyone who can survive days like today will be a "good" crypto investor. Even if you don't have the money to buy more, just making sure you don't blow yourself up in the long run is key. Keep it liquidated, my friends.
—— sassal.eth/acc @sassal0x
All indicators have failed, and it has fallen back to 52. Let's see if it can hold up here. If there is new negative news and it can't hold up, then the next point is 42. If even this key position of Bitcoin's bull and bear is completely broken, then this round of callback is already the 312 plus version.
But all the crashes in the crypto market caused by external negative factors are actually opportunities. 94, 519, 312, this round of pullbacks has been recorded in the history of crypto.
Let’s just survive for now, at least there is still hope for the future.
There is no market that keeps rising, and conversely, there is no market that keeps falling.
—— Crypto Monkey @monkeyjiang
I have experienced Brexit, the collapse of Luna, the collapse of Three Arrows Capital, the collapse of FTX, the liquidation of small exchanges, the liquidation of mining machines, ten ministries issuing documents, twelve ministries issuing documents to ban, the circuit breaker of the US stock market, the war in Ukraine, and the continued interest rate hikes by the Federal Reserve. You can't scare me.
——Wang Xiaolou @wang_xiaolou
With this kind of volatility, you need to bet on the buy the dips. When investing in the crypto, "risk control" still comes first. —— Chris Lee @ViewsOfChris
I remain as optimistic as I was six weeks ago. Focus on technology, sectors, and adoption. Don’t pay too much attention to the price of digital commodities amid global macro volatility unless you are here just to trade.
—— Jeremy Allaire - jda.eth / jdallaire.sol @jerallaire
I would not bet on ETH falling further any further. We may still have further to fall, but it is better to focus on finding future buying opportunities.
Don't cry because it's over. Smile because it happened.
——Andrew Kang @Rewkang
