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The cryptocurrency market has experienced a strong correction overnight, and the main capitalization, such as Bitcoins (BTC) and Ethereum (ETH), sent to key thresholds. Market analysis tools attribute this sudden movement to massive profits from the main holders.
In short
- Bitcoin drops below $ 115,000 after a massive whale sale, while privacy traders hit while market activity is intensifying.
- Ethereum dropped by more than 6 % to $ 4,239, reflecting the liquidation pressure caused by whales, similar to bitcoin pressure during dusk.
- The crypto market is subject to $ 350 million, of which 236 million in long positions and emphasizes sliding dynamics.
- Analyst Michaël van de Poppe emphasizes $ 120,000 as a level of escape, so Bitcoin finds bull dynamics.
Bitcoin is falling below $ 115,000, individuals stand up for themselves
Bitcoin dropped below $ 115,200 at the time of writing, after a decline of more than 2 % in the last 24 hours. This correction comes only a few days after the new historical summit for $ 124,171.
Cryptocurrency analysis data indicates a clear increase in the ratio of exchange whales, indicating that whales have intensified their sale. We remind this indicator the share of incoming flows in the stock exchange platforms represented by ten larger transactions.
At the same time, the activity of private traders disappeared: many used the decline to enter the market. The amount of stock exchanges jumped more than 30 % in 24 hours and reached $ 61.65 billion.
Glassnod analyzes confirm the gradual conversion of bitcoins from institutional portfolios and high capitalization to special oriented hands. Some commentators believe that this balance could stabilize the short -term market after an episode of profits from the main addresses.
Ether watched the same trend and supported more than 6 % from its peak inside $ 4,239. The fall is again associated with important liquidation on large wallets.
$ 350 million liquidated in 24 hours
In total, the Krypto market has seen nearly $ 350 million in one day, including $ 236 million in long positions. At the same timeOpen interest The BTC proceeded slightly (+0.15 %), indicating the opening of new downstream positions.
BTC long/short/short ratio reflects this trend with a proportion of short positions spent from 50 % to 57 % during the last session.
Here are other remarkable trends in the last 24 hours:
- The total capacity of the market crypto dropped to $ 3.87 trillion (-3.83 %).
- The daily exchanges increase to $ 168.61 billion (+38.05 %).
- Bitcoin dominance is maintained at 59.1 %, compared to 13.2 % for Ethereum.
- CoinMarketcap 100 decreases to $ 240.41 (-3.53 %).
- Index Fear and greed Records slightly at 56, compared to 57 earlier.
Michaël van de Poppe trader estimates that the threshold of $ 120,000 remains decisive to confirm the new upper pulse of bitcoins.
The analyst known as the pseudonym Wolf believes that the current Ethereum correction does not deprive this trend. In the near future, it maintains its forecast to a 5,000 dollar transition. While volatility persists, investors carefully monitor the next technical level and market response to the sales pressure of large wallets.
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James Godstime is a crypto journalist and market analyst with more than three years of experience in Krypto, Web3 and Finance. It simplifies complex and technical ideas to engage the reader. Outside of work, he likes football and tennis that he watches passionately.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.