• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin and Altcoins Drop: Market Losses and Expert Warnings

user avatar

by Giorgi Kostiuk

2 years ago

The cryptocurrency market faced a worrying decline as Bitcoin's price fell below $100,000, leading to $1 billion in liquidations in the past day.

Bitcoin and Altcoins Drop

Bitcoin, which had risen to $106,000, fell below $100,000, down 4.5% in the last 24 hours. This decline was accompanied by larger losses in altcoins such as Ethereum (ETH), XRP, and Solana (SOL), while losses in Cardano (ADA) and Dogecoin (DOGE) exceeded 10%.

Impact of TRUMP and MELANIA Memecoins

The official memecoin of President-elect Donald Trump, TRUMP, had a negative impact on the memecoin market. With the launch of his wife Melania's own memecoin, MELANIA, the impact intensified, and TRUMP fell 39% to $44. Experts warn that the frenzy surrounding TRUMP and MELANIA represents the FOMO phase of the bull market, potentially leading to a significant BTC price correction.

Liquidations and Expert Warnings

Liquidations in the cryptocurrency market exceeded $1 billion in the last 24 hours. According to CoinGlass data, investors caught off guard faced $1.17 billion in liquidations. The largest liquidations occurred in the Bitcoin/USDT trading pair on Binance, with over $204 million in long liquidations.

The cryptocurrency market is experiencing significant volatility, and the continued focus on memecoins suggests a FOMO phase in the current bull market, requiring investor caution.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

CZ Zhao Issues Warning on Hardware Wallet Security Following Major Exploit

chest

CZ Zhao warns cryptocurrency owners about hardware wallet vulnerabilities following a major exploit that resulted in significant losses.

user avatarEmily Carter

Upbit Conducts Major Internal Wallet Reorganization of SHIB

chest

South Korean exchange Upbit has reorganized 864 billion SHIB across its internal wallet addresses as part of a standard internal rebalancing process aimed at managing liquidity and security.

user avatarTomas Novak

Avalanche Staking Value Reaches $20.477 Billion

chest

Avalanche's staking value has reached approximately $20.477 billion, indicating strong network participation.

user avatarMaya Lundqvist

Helicon Upgrade Activated on Fuji Testnet

chest

The Helicon upgrade has been activated on the Fuji testnet, marking a significant step in Avalanche's development.

user avatarKaterina Papadopoulou

Avalanche Awards Grant to YourGrails for Tokenization of Physical Trading Cards

chest

Avalanche's Team1 Accelerator awarded a $30,000 grant to YourGrails for tokenizing physical trading cards, supporting the growth of the real-world asset ecosystem.

user avatarLeo van der Veen

Aave Governance Considers Wind Down of Low-Use V3 Markets

chest

Aave governance is reviewing a proposal to wind down six low-adoption V3 markets and offboard dozens of reserves to reduce operational complexity.

user avatarLi Weicheng

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.