The crypto market crash with $712 million in liquidations has caused significant concern among investors. Bitcoin faces sharp pullback after recently surpassing the $100,000 mark.
Current Market Analysis
Bitcoin experienced a sharp pullback amid concerns over upcoming economic events, including the Fed’s FOMC Minutes and US job data. Analysts warn Bitcoin may drop further if it fails to hold the $95,668 support level. Economic indicators like labor market data are expected to play a critical role in shaping investor sentiment.
Robert Kiyosaki's Reaction
Robert Kiyosaki, the author of 'Rich Dad Poor Dad,' linked the market downturn to decisions made during the 2008 financial crisis. He reaffirmed his bullish stance on Bitcoin, gold, and silver, suggesting the current volatility provides an opportunity to accumulate wealth in real assets.
Crypto Market Events
Cryptocurrencies are dealing with increased selling pressure: today, $561 million worth of long positions were liquidated. The largest liquidation order was registered on Binance, totaling $17.74 million in the ETHUSDT pair. Other cryptocurrencies also saw losses, with Ethereum down over 8%, Solana down more than 9%, and XRP down 5%.
The current state of the crypto market calls for close monitoring of economic developments. Investors remain cautious, aiming to navigate the downmarket with minimum risk.
