🚀In the past 24 hours, the cryptocurrency market fell 1.78%, reducing its market capitalization to $2.62 trillion. Corporate debt reduction and increased macroeconomic uncertainty have contributed to this decline. The market's correlation with the S&P 500 is as high as 67%, indicating that both are similarly sensitive to interest rates.
1. Main reasons: Large corporate sell-offs and signals from the Federal Reserve that it was tightening monetary policy triggered a wave of risk aversion.
2. Secondary reason: The sharp decline in Ethereum and Layer 1 tokens exacerbated the downtrend, while widespread panic hindered buying.
3. Short-Term Market Outlook: The market is at a critical technical juncture, and closing prices in the coming days will determine the short-term trend. Key upcoming developments include the Federal Reserve's next policy statement and the weekly ETF flow report.
💥Margin call alert:
In the past 24 hours, a total of 165,781 people across the internet have had their positions liquidated, with a total liquidation amount of $516 million. Long positions were liquidated for $373 million and short positions for $144 million.
📊 Performance of major cryptocurrencies:
1. Bitcoin (BTC): Price approximately 77,415, down 1.54% in the last 24 hours.
Bitcoin's focus today is on 77300. Only if it holds above this level on the 1-hour chart can a rebound be expected. If it does rise, pay close attention to the resistance levels at 79370, 81460, and 83110.
If the rebound fails to even reach 77300, it indicates weak momentum, and we should look for support levels below, paying attention to 75520, 74510, and 73540.
2. Ethereum (ETH): Price around 2301, down 6.51% in the last 24 hours.
Ethereum is currently focused on the 2287 level. Only a firm hold above this level can trigger a 1-hour rebound. The upside resistance levels are around 2380, 2460, and 2550.
If we can't even break through 2307 today, the rebound might not be very strong. Next, we'll have to watch the support levels at 2201, 2110, and 2035.
3. BNB: Price around 764, down 2.61% in the last 24 hours.
Today, pay attention to 765 for BNB. Only if it can hold above this level for 1-2 hours will there be a chance for a rebound. If it goes up, the resistance levels are 784, 805, and 821.
If it can't even hold above 765, it indicates a weak rebound. Next, pay attention to the support levels at 742, 730, and 720.
4. SOL: Price around 102, down 2.42% in 24 hours.
Today, pay attention to 103 for SOL. Only if it holds above this level can a rebound be expected on the 1-2 hour chart. Upward resistance levels are around 106, 109, and 114.
If it can't even break through 103, then the rebound might be weak. Next, pay attention to the support levels of 99, 95, and 93.
🌡️Market Sentiment:
Today, the total market capitalization of cryptocurrencies is approximately $2.70 trillion, and the total 24-hour trading volume is approximately $160 billion.
Current market sentiment is 13 (extreme fear), indicating a depressed market sentiment at the "excessive panic" level. Panic on social media and data from the derivatives market confirm the forced liquidation of leveraged positions. A depressed fear and greed index, negative funding rates, and high liquidation rates typically indicate persistent selling pressure.
Today's Crypto Gainers and Losers List 🔥
📈 Top 3 Gainers:
1. QKC: Price $0.004267, up 21% in 24 hours
2. GAS: Price $2.003, up 18% in 24 hours.
3. ZK: Price $0.03046, up 16% in 24 hours.
📉 Top 3 decliners:
1. ZKP: Price $0.0901, down 37% in 24 hours.
2.C98: Price $0.0194, down 21% in 24 hours.
3. SYN: Price $0.0786, down 20% in 24 hours.
✨ Performance of other major cryptocurrencies:
Dogecoin (DOGE): Price $0.10534, up 0.52% in the last hour.
Tron (TRX): Price $0.2844, up 0.56% in the last 24 hours.
Cardano (ADA): Price $0.2914, down 1.19% in the last 24 hours.
Hyperliquid (HYPE): Price $31.309, down 1.73% in the last 24 hours.
Avalanche (AVAX): Price $10.08, down 0.88% in the last 24 hours.
Stellar (XLM): Price $0.1775, down 1.61% in the last 24 hours.
Sui (SUI): Price $1.1217, down 2.90% in the last 24 hours.
Chainlink (LINK): Price $9.57, down 4.49% in the last 24 hours.
Hedera (HBAR): Price $0.08992, down 2.73% in the last 24 hours.
Bitcoin Cash (BCH): Price $522.1, up 1.36% in the last 24 hours.
Shiba Inu (SHIB): Price $0.00000678, down 0.15% in the last 24 hours.
Litecoin (LTC): Price $59.37, down 0.13% in the last 24 hours.
Pepe hiba Inu (PEPE): Price $0.00000421, up 0.96% in the last 24 hours.
Toncoin (TON): Price $1.346, up 0.30% in the last 24 hours.
