Cryptocurrency

Bitcoin Tumbles Below $67K as Solana Crashes 6% Daily (Market Watch)


The previous 24 hours noticed the broader cryptocurrency market lose round $120 billion of its whole capitalization, which is at the moment sitting at roughly $2.63 trillion.

This comes on the again of notable declines from the vast majority of cash, together with Bitcoin, Ethereum, Solana, and others.

Bitcoin’s Value Tumbles Beneath $67Okay

Bitcoin misplaced round $3,000 all through the previous day following a sudden crash earlier this morning. The worth went from virtually $70Okay to $67Okay in minutes, triggering a wave of liquidations.

btc_price_chart_0204241
Supply: CoinGecko

As CryptoPotato reported, the full variety of liquidations surpassed $500 million prior to now 24 hours, the place the vast majority of them had been lengthy positions, as anticipated. However, many analysts stay optimistic that this can be a wholesome retrace to much less leveraged ranges.

It’s additionally value noting that this month, the Bitcoin halving is scheduled to happen. It should cut back the availability of recent bitcoins in half. This has been traditionally bullish for the BTC worth.

Altcoins Take a Beating

The altcoin market is solely painted in pink right this moment, and many of the cash had it worse than Bitcoin. Ethereum, for instance, misplaced 5%, Cardano (ADA) is down 5.3%, Avalanche (AVAX) – misplaced 8%, and so forth.

cryptocurrency_heatmap_0204241
Supply: Quantify Crypto

Meme cash are additionally retracing significantly. Dogecoin misplaced some 9% prior to now 24 hours, Shiba Inu (SHIB) – misplaced about 6.4% – these are the meme coin market leaders when it comes to whole capitalization. Dogwifhat (WIF) – the Solana-based meme sensation – is down 15.3%, whereas PEPE misplaced round 12%.

It’s fascinating to see if the meme cash will come again swinging, as they have an inclination to do prior to now few weeks.

It’s not all doom and gloom, nevertheless. Core (CORE) is up a whopping 23.3% prior to now day, adopted by Bittensor’s TAO, which is up 10.6%. These are the 2 high performers for right this moment.

WIF, however, is the worst performer, adopted by Bitcoin SV (BSV), which is down 12.4%, in response to knowledge from CoinGecko.

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Disclaimer: Info discovered on CryptoPotato is these of writers quoted. It doesn’t signify the opinions of CryptoPotato on whether or not to purchase, promote, or maintain any investments. You’re suggested to conduct your personal analysis earlier than making any funding choices. Use offered info at your personal threat. See Disclaimer for extra info.

Cryptocurrency charts by TradingView.



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