🚀The cryptocurrency market rose 1.63% in the past 24 hours, primarily driven by large-scale Bitcoin purchases by institutional investors. This market exhibits a high correlation (63%) with the S&P 500, indicating that both markets are similarly influenced by macroeconomic developments.
1. Main reason: Michael Thaler's company spent $2.5 billion to buy Bitcoin, a record high, which shows that institutional investors have great confidence in Bitcoin.
2. Secondary reason: Continued inflows of ETF funds and positive market sentiment supported the rise.
3. Short-term market outlook: If the price of Bitcoin remains above $2.53 trillion, the rally could continue to $2.61 trillion; however, a break below this support level could cause the price to fall back to $2.44 trillion.
💥Margin call alert:
In the past 24 hours, a total of 113,067 people across the internet have had their positions liquidated, with a total liquidation amount of $279 million. Long positions were liquidated for $85.1261 million, and short positions for $193 million.
📊 Performance of major cryptocurrencies:
1. Bitcoin (BTC): Price approximately 75,809, up 2.16% in the last 24 hours.
Bitcoin is currently targeting 75260. As long as this level holds on the 4-hour chart, the bulls are still in control, with the first target being the previous high of 76550. If it fails to break through, it will likely fall back down. Only a break above the previous high will allow it to move upwards, at which point we can look for shorting opportunities at 78000, 79300, and 81500.
If the price falls below 75260 today, then a pullback will begin on the 4-hour chart. Look for opportunities to long around 73660, 72300, and 70600.
2. Ethereum (ETH): Price around 2313, up 2.03% in the last 24 hours.
Ethereum is currently targeting 2305. If it holds above this level on the 4-hour chart, a minor rebound is possible, with the first target being the previous high of 2350. If it fails to break through, it will likely fall back. Only a break above the previous high will allow it to continue its upward momentum. Short around 2408, 2463, and 2510.
If the price falls below 2305 today, then this rebound has failed. Long around 2251, 2175, and 2115.
3. BNB: Price around 630, up 2.17% in the last 24 hours.
BNB is currently targeting 626. If it holds above this level on the 4-hour chart, the bullish trend remains intact. Consider short near 637, 649, and 664. If it breaks below 626 today, a 4-hour pullback is expected, with long around 615, 605, and 591.
4. SOL: Price approximately 85, up 2.18% in 24 hours.
Today, we're watching SOL at 86. Only a strong breakout above 86 on the 4-hour chart will lead to a significant rebound. Short near 88, 91, and 93. If it fails to break 86 today, the rebound is weak, and long near 83, 81, and 79.
🌡️Market Sentiment:
Today, the total market capitalization of cryptocurrencies is approximately $2.64 trillion, and the total trading volume in the past 24 hours is approximately $143 billion.
Current market sentiment is 56 (neutral). The index looks stable, but on-chain derivatives trading is very active, with many people hedging against downside risk. Pessimism has prevailed on social media due to the recent major DeFi attack, temporarily suppressing institutional buying optimism. In the next 24 to 48 hours, the key will be the average perpetual funding rate. If it continues to rise, it could be a signal of a market reversal.
Today's Crypto Gainers and Losers List 🔥
📈 Top 3 Gainers:
1. EDU: Price
0.1274, up 23% in 24 hours
3. SSV: Price $2.850, up 18% in 24 hours.
📉 Top 3 decliners:
1. DEGO: Price
0.2563, down 11% in 24 hours
3. ZBT: Price $0.1098, down 10% in 24 hours.
✨ Performance of other major cryptocurrencies:
Dogecoin (DOGE): Price $0.09542, up 1.68% in the last hour.
Tron (TRX): Price $0.3286, down 0.86% in the last 24 hours.
Cardano (ADA): Price $0.2488, up 2.05% in the last 24 hours.
Hyperliquid (HYPE): Price $40.988, down 0.14% in the last 24 hours.
Avalanche (AVAX): Price $9.37, up 3.31% in the last 24 hours.
Stellar (XLM): Price $0.1754, up 5.03% in the last 24 hours.
Sui (SUI): Price $0.9473, up 1.85% in the last 24 hours.
Chainlink (LINK): Price $9.35, up 2.52% in the last 24 hours.
Hedera (HBAR): Price $0.08969, up 1.57% in the last 24 hours.
Bitcoin Cash (BCH): Price $442.4, up 1.14% in the last 24 hours.
Shiba Inu (SHIB): Price $0.00000603, up 1.52% in the last 24 hours.
Litecoin (LTC): Price $54.99, up 0.75% in the last 24 hours.
Pepe hiba Inu (PEPE): Price $0.00000378, up 2.44% in the last 24 hours.
Toncoin (TON): Price $1.368, up 6.13% in the last 24 hours.
