After briefly breaking through the $100,000 mark last night, Bitcoin began to enter a downward trend. The price of Bitcoin first dropped sharply from a high of $100,421 to about $98,000 at 11 PM, and at 5 AM today, it briefly spiked down to $94,150, with a maximum drop of 6.25%.
As of now, the price has rebounded to $97,100, down 2.96% in the last 24 hours.
Ethereum once approached $3500.
Additionally, Ethereum also followed this downward trend, briefly spiking down to $3,509, and has now rebounded to $3,709, down 7.4% in the last 24 hours.
This pattern of initially surging and then sharply dropping has led to many traders in the market being caught off guard. According to data from CoinGlass, in the last 24 hours, a total of 569,585 people have been liquidated, with a total liquidation amount reaching $1.71 billion, primarily from long positions, setting the largest single-day liquidation amount since September 2021.
In terms of single cryptocurrencies, the liquidation amount for Ether is the highest, reaching $239 million.
However, it is worth noting that after several days of consolidation, the overall market leverage has decreased to a relatively moderate level, providing a relatively healthy environment for further increases.
Altcoins showed signs of weakness a few days ago, with a significant shrinkage in trading volume for spot trading pairs. Therefore, GT Radar's following strategy also cleared most altcoins in advance before this wave of decline, helping investors secure profits.
Today's article ends here. Currently in a bull market, with winds and clouds swirling, we share passwords every day. If you don't know what to do in a bull market, feel free to follow us for spot trading passwords and layout strategies, which can be shared free of charge.
