加密貨幣、期貨市場清算、“暴跌”

CoinGlass: "Futures market liquidation of about 21.459 trillion won on the 25th"
Massive liquidation causes BTC and altcoins to plummet in the late afternoon on the 25th
Binance CEO: "Cryptocurrencies will recover like before after the sharp decline"

Cryptocurrencies, including BTC, plummeted on the 26th due to massive futures market liquidation.

According to data from the on-chain analysis platform CoinGlass, the cryptocurrency futures market liquidation amount reached $1.5 billion (about 21.459 trillion won) on the 25th.

The sharp decline on the 25th night was due to the large-scale liquidation of funds from futures market investors who were betting on a rebound, with BTC recording a maximum decline of 7% and altcoins an average decline of over 15%.

While BTC rebounded by about 2% and altcoins rebounded by an average of about 5% due to inflows of low-price buying pressure in the early morning of the 26th, they have not been able to make up for the decline.

◇ BTC = As of 4 pm on the 26th, the price of BTC on Upbit is 12,886 million won. BTC dominance is 61.08%.

According to the on-chain analysis platform Sygbit, the long (bullish) and short (bearish) betting ratio in the BTC futures market is 73.44% and 26.56%, respectively.

Despite the sharp decline in BTC, experts believe that the BTC bull market has not yet ended.

Changpeng Zhao, CEO of Binance, said in his X account at the time the BTC plunge began on the 25th, "Cryptocurrency markets have experienced such sharp declines before, and the market has recovered even more strongly afterwards," and "The market's sharp decline is just a tactical retreat, not a change in trend."

CEO Changpeng Zhao emphasized that cryptocurrencies have shown much faster recovery power compared to traditional assets.

He explained, "The cryptocurrency market has declined due to macroeconomic factors like traditional assets, but unlike traditional assets, it has shown a faster recovery," and cited the example of BTC recovering after falling below $20,000 due to the US Federal Reserve's interest rate hike decision in 2022 as evidence for maintaining optimism.

◇ Rising Coins = The cryptocurrency that recorded the largest increase compared to the previous trading day on Upbit as of 4 pm on the 26th was STPT, which rose about 8% from 24 hours ago.

STPT is an Ethereum-based token that is circulated on a smart contract platform that can tokenize assets in compliance with regulations in various countries around the world.

STPT was co-founded by Chinese Mike Chen and Korean Lee Shin-hye, and is traded on global exchanges such as Upbit, Binance, and Huobi, in addition to Upbit.

◇ Fear and Greed Index = The Cryptocurrency Fear and Greed Index provided by Alternative is at 21 points, maintaining the 'Fear' stage. The Fear stage (20-39) is a period of high price volatility and trading volume, where prices are declining. There is a high likelihood of forming a short-term bottom, so caution is advised when buying.

The Cryptocurrency Relative Strength Index (RSI) provided by Sygbit is 29.3, indicating an 'oversold' state. RSI measures the relative strength between the upward and downward pressure of a specific asset price, and serves as an indicator of overbought and oversold conditions for that asset.

Reporter Kwon Seung-won ksw@blockstreet.co.kr