Just last night, the cryptocurrency market unexpectedly set off a huge wave, like a blockbuster bomb, instantly stirring up thousands of waves in the financial world, causing panic and attention among countless investors.
Bitcoin, as the leader of cryptocurrencies, has seen its price on a crazy roller coaster. In just a few hours, the unit price first plummeted like a free fall, once falling to around $104,000, and then, as if pulled by an invisible big hand, it skyrocketed by more than $2,000. Before investors could recover, it quickly fell again by nearly $4,000. As of 22:05 that night, the latest quotation hovered around $103,500, and every price jump seemed like a knife stabbing into the hearts of investors.
Ethereum also failed to stay out of the situation, following in Bitcoin's footsteps and plummeting, with a short-term drop of more than $200. As of the same time, it was last quoted at $2,440 per coin, a daily drop of more than 4.5%, and the glory of the past was ruthlessly crushed in this storm.
Dogecoin, SOL, SUI and other digital currencies also failed to escape this disaster, all falling by more than 4%. The entire cryptocurrency market was filled with mourning and bleakness.
In the face of such huge price fluctuations, both long and short investors have suffered heavy losses, and a large number of people have been liquidated. According to statistics from the professional data platform Coinglass, in the past 24 hours, more than 130,000 people worldwide have been liquidated, with a total liquidation amount of more than $460 million. Among them, the liquidation of long orders was particularly tragic, with a liquidation amount of more than $500 million. The largest single liquidation order appeared in Bitcoin trading, with a liquidation amount of approximately $8 million. This figure is shocking and instantly shattered the wealth dreams of countless families.
According to industry experts, the sharp fluctuations and obvious decline in the digital currency market this weekend are due to a complex set of reasons. The global inflation outlook is like a fog, filling investors' hearts with doubts and dampening confidence. Constant geopolitical disputes and rising uncertainty have led to panic in market liquidity. The recent escalation of policy reviews by the US Securities and Exchange Commission (SEC) on cryptocurrencies has brought tremendous policy pressure to the market. Funds that had previously made profits by going long have also begun to cash out and leave the market, further exacerbating the market sell-off.
Not only the digital currency market, but also in the closely linked financial market, after the Federal Reserve announced that it would keep interest rates unchanged, the gold and silver markets, which are also extremely sensitive to the global inflation outlook and monetary policy, also fell significantly. As of 22:35 on June 21, international gold prices have fallen by about $80 from a high of $3,450/ounce, and international silver prices have fallen even more. The entire financial market is shrouded in a sense of unease.
