🚀In the past 24 hours, the cryptocurrency market has fallen by 3.29%. The correlation between the cryptocurrency market and gold prices is as high as 80%, indicating that investors are seeking to hedge against inflation risks amid overall market uncertainty.
1. Main reason: Solana's Drift Protocol was hacked, resulting in a loss of over $270 million, which caused panic and had a negative impact on SOL and the entire Layer 1/DeFi industry.
2. Secondary reasons: Market weakness influenced by Bitcoin and continued outflows from US spot ETFs indicate declining institutional demand.
3. Short-term market outlook: If the market holds the $2.27 trillion support level, it is expected to enter a consolidation phase; if it falls below this level, especially if the US jobs report on April 4 exacerbates macroeconomic concerns, the consolidation range may expand to $2.17 trillion.
💥Margin call alert:
In the past 24 hours, a total of 142,875 people across the internet have had their positions liquidated, with a total liquidation amount of $350 million. Long positions were liquidated for $218 million and short positions for $132 million.
📊 Performance of major cryptocurrencies:
1. Bitcoin (BTC): Price approximately 66,886, down 2.81% in the last 24 hours.
Bitcoin is currently targeting 67360. If it can hold above this level, a rebound on the 1-hour chart will begin. The resistance levels to watch are around 68900, 70100, and 71810.
If it fails to break through 67360, it indicates that the small-scale rebound is weak, and the price will continue to fall. The support levels to watch are around 65500, 64000, and 62420.
2. Ethereum (ETH): Price around 2055, down 3.80% in the last 24 hours.
Ethereum is expected to reach 2095 today. If it can hold above this level, a rebound will begin on the 1-hour chart. The resistance levels to watch are around 2160, 2200, and 2250.
If it fails to break through 2095, it indicates that the small-scale rebound is weak, and the price will continue to fall. The support levels to watch are around 2020, 1980, and 1936.
3. BNB: Price around 592, down 4.09% in the last 24 hours.
BNB is currently targeting 601. If it can hold above this level, a rebound will begin on the 1-hour chart. The resistance levels to watch are around 610, 622, and 631.
If it fails to break through 601, it indicates that the small-scale rebound is weak, and the price will continue to fall. The support levels to watch are around 582, 572, and 560.
4. SOL: Price around 79, down 5.36% in 24 hours.
SOL is currently targeting 80. If it can hold above this level, a rebound will begin on the 1-hour chart. The resistance levels to watch are around 82, 85, and 88.
If it fails to rise above 80, it indicates that the small-scale rebound is weak, and the price will continue to fall. The support levels to watch are around 77, 72, and 67.
🌡️Market Sentiment:
Today, the total market capitalization of cryptocurrencies is approximately $2.38 trillion, and the total trading volume in the past 24 hours is approximately $108 billion.
The current market sentiment is 11 (extreme fear), a slight increase from yesterday, but the Fear & Greed Index is still declining. The current total market capitalization RSI is 34.29, in oversold territory, suggesting a potential short-term rebound. Pay close attention to the $66,000 level for Bitcoin: continued pressure could prolong the panic; a recovery could bring stability to other cryptocurrencies.
Today's Crypto Gainers and Losers List 🔥
📈 Top 3 Gainers:
1. STO: Price
0.01207, a 98% increase in 24 hours.
3. SOLV: Price
0.2054, down 14% in 24 hours
2. ROBO: Price
0.0827, down 12% in 24 hours
✨ Performance of other major cryptocurrencies:
Dogecoin (DOGE): Price
0.3157, up 0.03% in 24 hours.
Cardano (ADA): Price
35.038, down 6.19% in 24 hours.
Avalanche (AVAX): Price
0.1646, down 4.25% in 24 hours.
Sui (SUI): Price
8.56, down 5.73% in 24 hours.
Hedera (HBAR): Price
440.9, down 4.40% in 24 hours.
Shiba Inu (SHIB): Price
52.39, down 3.64% in 24 hours.
Pepe hiba Inu (PEPE): Price
1.217, down 0.49% in 24 hours.
