The crypto market has faced massive liquidations amounting to $334.99 million over the past 24 hours, reflecting mixed investor sentiment.
24-Hour Liquidation Data
109,704 traders were liquidated, with long traders bearing more losses. Bitcoin (BTC) and Ethereum (ETH) faced significant liquidations. According to Coinglass, more than $186.35 million in BTC was liquidated, with $123.21 million from long positions and $63.14 million from short positions. Ethereum saw $40.84 million in total liquidations. XRP also experienced liquidations, totaling $7.3 million.
BTC, ETH, and XRP Price and Weekly Dynamics
Cryptocurrency prices are declining. Bitcoin's price is currently 3% lower than its market value 24 hours ago, now at $86,409.24. The flagship coin has recorded a 12% price drawdown over the last month, with a week-to-date increase of 1.9%. Ethereum is struggling to maintain its support level. XRP has also fallen by 7.31% in the past 24 hours, trading at $2.36.
Long-Term Prospects of Crypto Reserve
Trump's plan to create a strategic crypto reserve including ADA, XRP, and SOL has sparked mixed reactions. Coinbase CEO Brian Armstrong believes it is better to limit to Bitcoin, citing its simplicity compared to gold. Nonetheless, the idea of including such assets in the national reserve remains controversial.
The crypto market shows significant volatility, highlighting the need for careful investment approaches. Discussions about a strategic crypto reserve only add to the uncertainty.
