🚀The cryptocurrency market fell 1.05% in the past 24 hours. This decline was caused by a sell-off triggered by macroeconomic factors and the liquidation of leveraged positions, which accelerated the decline.
1. Main reason: Bitcoin triggered a massive sell-off influenced by macroeconomic factors; more than $100 million in long positions were liquidated, exacerbating the decline.
2. Secondary factors: Ethereum weakened due to whale selling and weak spot demand, as well as operational issues of exchanges, all played a role.
3. Short-term market outlook: If the market holds above the $2.55 trillion support level, consolidation is expected ahead of the Senate Banking Committee hearing on the Clarity Act on May 14. A break below this support level could see a test of the $2.47 trillion mark.
💥Margin call alert:
In the past 24 hours, a total of 95,817 people across the network have had their positions liquidated, with a total liquidation amount of $313 million. Long positions were liquidated for $248 million, and short positions for $65.059 million.
📊 Performance of major cryptocurrencies:
1. Bitcoin (BTC): Price approximately 79,356, up 2.86% in the last 24 hours.
Bitcoin is expected to reach 80350 today. If it can hold above this level, the 4-hour pullback will be considered over. Look for short positions around 81720, 82850, and 84600.
If it can't reach 80350, it means the rebound is weak. First, see if the previous low of 79160 can hold. If it doesn't break down, there's still a chance for a small-scale rebound; if it does break down, look for long positions around 78050, 76500, and 74900.
2. Ethereum (ETH): Price around 2270, down 3.13% in the last 24 hours.
Ethereum is currently targeting 2305. If it holds above this level, a rebound is expected on the 4-hour chart. Consider shorting around 2345, 2390, and 2422. If it fails to hold, the rebound will lack strength, and the first target will be the previous low of 2265. If it doesn't break below this level, it can rebound further; if it does break below, consider going long around 2225, 2180, and 2115.
3. BNB: Price around 635, down 2.09% in the last 24 hours.
BNB is currently targeting 645. If it holds above this level, the 4-hour pullback will be considered complete. Consider shorting around 654, 664, and 676. If it fails to break above 645, the rebound is weak, and the first target is the previous low of 633. If it doesn't break below this level, the minor rebound is still possible; if it does break below, consider going long around 622, 613, and 601.
4. SOL: Price around 87, down 1.88% in 24 hours.
Today, we're watching SOL at 87.5. As long as it doesn't break below this level, it can continue its rebound on smaller timeframes. Consider shorting near 90, 93, and 95. If it breaks below 87.5, a pullback will begin on the 4-hour chart, with potential long positions near 85, 83, and 81.
🌡️Market Sentiment:
Today, the total market capitalization of cryptocurrencies is approximately $2.75 trillion, and the total trading volume in the past 24 hours is approximately $135 billion.
Current market sentiment is 46 (neutral), at a cautiously bullish level. While the Fear & Greed Index remains stable, social media and market data suggest the market is consolidating after the recent rally. Decreased open interest and liquidations indicate reduced over-speculation, laying a more solid foundation for the next move.
Today's Crypto Gainers and Losers List 🔥
📈 Top 3 Gainers:
1. NIL: Price
0.5562, up 31% in 24 hours
3. TST: Price $0.02298, up 25% in 24 hours.
📉 Top 3 decliners:
1.D: Price
0.0000819, down 13% in 24 hours
3. DCR: Price $18.99, down 8% in 24 hours
✨ Performance of other major cryptocurrencies:
Dogecoin (DOGE): Price $0.10649, down 4.50% in the last hour.
Tron (TRX): Price $0.3509, up 1.68% in the last 24 hours.
Cardano (ADA): Price $0.2614, down 2.46% in the last 24 hours.
Hyperliquid (HYPE): Price $42.339, down 2.19% in the last 24 hours.
Avalanche (AVAX): Price $9.46, down 2.07% in the last 24 hours.
Stellar (XLM): Price $0.1579, down 2.77% in the last 24 hours.
Sui (SUI): Price $0.9612, down 4.48% in the last 24 hours.
Chainlink (LINK): Price $9.83, down 2.29% in the last 24 hours.
Hedera (HBAR): Price $0.08985, down 1.29% in the last 24 hours.
Bitcoin Cash (BCH): Price $449.7, down 2.60% in the last 24 hours.
Shiba Inu (SHIB): Price $0.00000627, down 1.57% in the last 24 hours.
Litecoin (LTC): Price $56.31, down 1.31% in the last 24 hours.
Pepe hiba Inu (PEPE): Price $0.00000413, down 1.90% in the last 24 hours.
Toncoin (TON): Price $2.724, down 2.05% in the last 24 hours.
