BTC surged to $68,771 on the 25th, but then plummeted, reaching a low of $65,596.29 on the morning of the 26th. However, it then rebounded above $66,000, and has been fluctuating between $66,600 and $67,400 for the past two days. As of the time of writing, it is trading at $67,061, up 0.6% in the last 24 hours.
Ethereum Rebounds and Fluctuates
The trend of ETH is similar to that of BTC. After reaching $2,566.33 on the 25th, it plummeted, touching a low of $2,382.59 in the early morning of the same day. It then rebounded above $2,400 and has been fluctuating between $2,440 and $2,500 for the past two days. It is currently trading at $2,470, up 1.4% in the last 24 hours.
Top 10 Tokens Rebound Across the Board
CoinMarkeCap data shows that other top 10 tokens have rebounded across the board in the last 24 hours. The relatively stronger SOL has risen 5.8% to $172, Doge has increased 4.78% to $0.1381, and TON has risen 2.12% to $4.91.
Single-Day Liquidations of $62 Million Across the Network, Market Remains Greedy
Coinglass data shows that in the past 24 hours, the total amount of crypto liquidations across the network was around $62 million, with long positions accounting for $28.2 million and short positions accounting for $33.86 million. Over 31,800 people were liquidated, but the total daily liquidation amount has decreased significantly from the $400 million on the 25th.
It is worth noting that the Crypto Fear and Greed Index has risen to 74 today, remaining in the "Greed" level for 12 consecutive days, indicating that market sentiment continues to be highly bullish.
BTC May Break New Highs
In a report released on the 26th, Kraken analysts analyzed that as long as BTC remains above $66,500, it is still in an uptrend, as it is above all its major moving averages, indicating that the bulls are still in control. As long as it continues to rise, the next key level will be the historical high of $73,679 set in March:
A successful break above this level could open the door to new price discoveries and further upward momentum.
Regarding BTC's sudden plunge yesterday, analysts generally believe it is related to the uncertainty in the crypto industry and the escalating geopolitical tensions in the Middle East. Crypto trader Herdy believes the market may be reacting to the FUD about Tether being investigated by US prosecutors and the Israeli airstrikes on Iran.
The Wall Street Journal reported yesterday that US prosecutors are investigating whether Tether has violated sanctions and anti-money laundering laws, and accused USDT of being abused by illicit organizations. However, Tether and its CEO deny facing any investigation, stating that they closely cooperate with law enforcement agencies to prevent illegal use, and accuse the report of being baseless.
