Crypto Market Shake-Up -Where It Is Heading??
The crypto market is in for a surprise, dropping 7% in the past 24 hours, bringing the total market cap to $2.17 trillion.
Bitcoin's bearish sentiment after closing below key support levels on Tuesday triggered a broader market downturn. Altcoins like Ethereum, Solana, and Dogecoin suffered significant losses, leading to over $319 million in liquidations, mostly from long positions.
As Bitcoin's price trends downward, major altcoins like Binance Coin, Cardano, and XRP also posted losses. Dogecoin dropped 4%, and Toncoin saw a steep 20% weekly decline, impacted by Telegram’s CEO's arrest.
Despite this, Bitcoin's spot price has fluctuated, with upcoming events like NVIDIA’s earnings and U.S. PCE data expected to bring no major surprises. The market remains volatile, keeping investors on edge.