After the gold and silver, the cryptocurrency market also suffered a severe crash!
In just one night, the market value evaporated by over $500 billion.
In the past three days, the liquidation scale of leveraged long and short contracts has reached a total of $5 billion.
BTC plummeted by 13%, with a market value loss of nearly $265 billion;
ETH fell sharply by 25%, with a market value reduction of $91 billion;
XRP dropped by 22%, with a market value evaporation of $24 billion;
SOL plummeted by over 23%, with a market value reduction of $16 billion.
So how much of a drop in BTC would be considered the bottom?
How long until it can recover to a new high?
- 2011-2013: Peak at $32 → Retraced 94% to $2 → Broke previous high in 10 months
- 2013-2017: Peak at $1150 → Retraced 86% to $200 → Broke previous high in 3 years
- 2017-2020: Peak at $20000 → Retraced 84% to $3200 → Broke previous high in 3 years
- 2021-2024: Peak at $69000 → Retraced 77% to below $15500 → Broke previous high in 2 years and 4 months
- Current peak at $125000 → Retraced about 40% to below $76000 → Did not break previous high.
In just one night, the market value evaporated by over $500 billion.
In the past three days, the liquidation scale of leveraged long and short contracts has reached a total of $5 billion.
BTC plummeted by 13%, with a market value loss of nearly $265 billion;
ETH fell sharply by 25%, with a market value reduction of $91 billion;
XRP dropped by 22%, with a market value evaporation of $24 billion;
SOL plummeted by over 23%, with a market value reduction of $16 billion.
So how much of a drop in BTC would be considered the bottom?
How long until it can recover to a new high?
- 2011-2013: Peak at $32 → Retraced 94% to $2 → Broke previous high in 10 months
- 2013-2017: Peak at $1150 → Retraced 86% to $200 → Broke previous high in 3 years
- 2017-2020: Peak at $20000 → Retraced 84% to $3200 → Broke previous high in 3 years
- 2021-2024: Peak at $69000 → Retraced 77% to below $15500 → Broke previous high in 2 years and 4 months
- Current peak at $125000 → Retraced about 40% to below $76000 → Did not break previous high.
