altcrash

On December 10, the crypto market saw a massive shakeout, with $1.75B in altcoin liquidations—the largest since May 2021. 🙀

Derivatives markets also hit a record $12.8B in liquidations, mirroring patterns from the last major bull run. 🤔

Ethereum funding rates plummeted to their lowest since November, signaling reduced leverage and a more stable foundation for price movements.

🔎 Despite the chaos, experts remain optimistic about Bitcoin and Ethereum, pointing to strong ETF inflows as key support, with Bitcoin ETFs seeing a 9-day streak of growth and Ethereum ETFs maintaining momentum for 12 days straight.

The market may be resetting, but the bullish outlook stays strong. 🚀
#AltcoinInvesting #altcrash #Liquidation

📊 Glassnode published a new report (link) and highlighted that altcoins were hit the hardest during the recent correction—their market capitalization saw one of the largest drops in history (-$234B). 🚫💵

Bitcoin also faced pressure, but most realized losses came from short-term $BTC holders.

The market environment is becoming more challenging: high volatility and continued pressure on altcoins could impact future market dynamics. 🤔
#LTC&XRPETFsNext? #Altcoinseason2024 #AltCrash