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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

BingX EU Achieves MiCA License to Expand Crypto Services in Europe

BingX EU MEGE zweite GmbH has obtained a MiCA license from Austria's FMA, allowing it to offer regulated crypto services across 29 EEA countries.

user avatarMohamed Farouk

Zcash Faces 11% Decline Amid Growing Market Concerns

Zcash has experienced an 11% decline in the past 24 hours, raising concerns about market stability and the impact of AI on cryptography.

user avatarElias Mukuru

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

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.