🚀In the past 24 hours, the cryptocurrency market has fallen 5.7%, with its market capitalization decreasing by $0.17 trillion compared to yesterday. This market is highly correlated with the S&P 500 (72% correlation) and gold (90% correlation), indicating that it is influenced by common macroeconomic factors. Detailed reasons for the decline:
1. Main reason: A wave of large-scale liquidations triggered a rapid sell-off, exacerbating the decline, especially in an environment where long positions dominated.
2. Secondary reasons: Market expectations that the Federal Reserve will tighten monetary policy, and general market weakness, especially in artificial intelligence and Layer 1 tokens, led to increased selling pressure.
3. Short-term market outlook: If the market can hold near the annual low of $2.42 trillion, it may remain stable; however, comments from the Federal Reserve or ETF outflows could reignite macroeconomic concerns.
💥Margin call alert:
In the past 24 hours, a total of 266,915 people across the internet have had their positions liquidated, with a total liquidation amount of $1.682 billion. Long positions were liquidated for $1.568 billion and short positions for $141 million.
🤬The market crashed, dropping 10,000 points in 2 days.
The market movement completely exceeded expectations, and key levels on the daily chart were broken, so we must respect market realities. At this point, holding onto heavily leveraged positions is futile; no one can help! Always implement stop-loss orders. Stop-loss orders are like a small-amount remedy for regret; don't wait until you've lost money to regret it. After all, no amount of advice can save someone who's clinging to wishful thinking.
📊 Performance of major cryptocurrencies:
1. Bitcoin (BTC): Price approximately 82213, down 6.96% in the last 24 hours.
Today, pay attention to 83700; if it holds, a rebound on the hourly chart is likely. Resistance levels are around 85300, 87090, and 88460.
If the price fails to hold above 83700, it may retrace to the previous low of 81000. If it holds, there is still a chance for a rebound; if it breaks below, the next support levels to watch are around 79370, 77650, and 76510.
2. Ethereum (ETH): Price around 2708, down 8.32% in the last 24 hours.
Today, pay attention to 2785; if it holds, a rebound on the hourly chart is likely. Resistance levels are around 2835, 2878, and 2920.
If the price fails to hold above 2785, it may retrace to the previous low of 2670. Holding above this level would suggest a potential rebound, while a break below would target support levels around 2620, 2560, and 2505.
3. BNB: Price around 838, down 6.83% in the last 24 hours.
Today, pay attention to 859; if it holds, a rebound on the hourly chart is likely. Resistance levels to watch are around 870, 881, and 891.
If it fails to hold above 859, it may retrace to the previous low of 835. If it holds, there is still a chance for a rebound; if it breaks below, the next support levels to watch are around 827, 818, and 809.
4. SOL: Price around 113, down 8.32% in 24 hours.
Today, pay attention to the 116 level; if it holds, a rebound on the hourly chart is likely. Resistance levels to watch are around 119, 123, and 128.
If it fails to hold above 116, it may retrace to the previous low of 111. If it holds, there is still a chance for a rebound; if it breaks below, the next support levels to watch are around 109, 106, and 102.
🌡️Market Sentiment:
Today, the total market capitalization of cryptocurrencies is approximately $2.9 trillion, and the total trading volume in the past 24 hours is approximately $22.6 billion.
The current market sentiment is 15 (extreme fear), which is depressed due to liquidation, macroeconomic concerns and capitulation risks. However, the market is oversold, and the possibility of a change in the Fed chairman may help stabilize prices.
Today's Crypto Gainers and Losers List 🔥
📈 Top 3 Gainers:
1. SENT: Price $0.03838, up 24% in 24 hours.
2. Binance Life: Price $0.1608, up 13% in 24 hours.
3. ROSE: Price $0.02195, up 11% in 24 hours.
📉 Top 3 decliners:
1. XVS: Price $3.28, down 26% in 24 hours
2. ASTR: Price $0.00943, down 15% in 24 hours.
3. ACT: Price $0.0179, down 15% in 24 hours.
✨ Performance of other major cryptocurrencies:
Dogecoin (DOGE): Price $0.11315, down 7.21% in the last hour.
Tron (TRX): Price $0.2916, up 0.95% in the last 24 hours.
Cardano (ADA): Price $0.3225, down 8.25% in the last 24 hours.
Hyperliquid (HYPE): Price $28.886, down 12.17% in the last 24 hours.
Avalanche (AVAX): Price $10.83, down 8.54% in the last 24 hours.
Stellar (XLM): Price $0.1923, down 6.88% in the last 24 hours.
Sui (SUI): Price $1.2754, down 6.78% in the last 24 hours.
Chainlink (LINK): Price $10.73, down 7.82% in the last 24 hours.
Hedera (HBAR): Price $0.09799, down 6.17% in the last 24 hours.
Bitcoin Cash (BCH): Price $542.8, down 6.24% in the last 24 hours.
Shiba Inu (SHIB): Price $0.00000715, down 5.91% in the last 24 hours.
Litecoin (LTC): Price $63.53, down 6.95% in the last 24 hours.
Pepe hiba Inu (PEPE): Price $0.00000453, down 6.42% in the last 24 hours.
Toncoin (TON): Price $1.421, down 5.96% in the last 24 hours.
