Who can tell me what happened???
My account almost got wiped out overnight.
95% of the coins in the market are down overnight.
80% of the coins have a drop of over 15%.
More than 50% of the coins have a drop of over 20%.
Has the correction begun??
Bitcoin briefly broke the 100,000 dollar mark last night, then entered a downward fluctuation phase. At 11 PM last night, BTC sharply fell from a peak of 100,421 dollars to about 98,000 dollars. After several hours of fluctuations, it touched 94,150 dollars at 5 AM today, with a maximum drop of 6.25%. Currently, the price has rebounded to 97,100 dollars, with a decrease of 2.96% in the last 24 hours.
Nearly 1.7 billion dollars were liquidated in the last 24 hours.
According to Coinglass, the total amount of liquidations in the cryptocurrency market in the past 24 hours reached 1.71 billion dollars, with long positions accounting for 1.55 billion dollars, making up the majority, while short positions accounted for 163 million dollars. This liquidation event resulted in over 567,000 people being liquidated. It is worth noting that this 1.7 billion dollar liquidation amount is the second highest record in the history of the cryptocurrency market, second only to the liquidation situation on September 7, 2021.
Former Chinese billionaire and Binance founder Zhao Changpeng (CZ) appeared at the Bitcoin MENA 2024 summit on Monday (December 9). He stated that China will become one of the countries adopting Bitcoin as a strategic reserve, possibly following the plans of Donald Trump's new government in the United States. He emphasized that Bitcoin is the only 'hard asset'.
CoinTelegraph reports that Zhao Changpeng believes 'smaller countries' may be the first to adopt Bitcoin as a strategic reserve, but the change may happen slowly.
He pointed out that China has the ability to implement policies rapidly, which means that a swift shift to Bitcoin is possible. He further mentioned that due to the lack of transparency from the government, China's stance on cryptocurrency is 'harder to predict.'
He also stated: 'Trump has not yet taken office, and the Bitcoin strategic reserve has not been initiated, so I believe that once all this really happens, we will observe the reactions of other countries.'
Zhao Changpeng, who grew up in China, mentioned that if China is willing, it can formulate relevant policies 'very, very quickly.' He emphasized that although there is no evidence of the government hoarding Bitcoin, establishing a Bitcoin strategic reserve is 'inevitable.'
He said: 'I would be shocked if (the Chinese government) announces something and takes action - but if (the Chinese government) accumulates funds and then announces it, my level of shock will be lower. They have to do this at some point because this (Bitcoin) is the only hard asset.'
Although Zhao Changpeng has not seen direct evidence of China hoarding Bitcoin, he believes that establishing a Bitcoin reserve in China is inevitable.
Dogecoin can be said to be the ancestor of MEME without exaggeration. In the early days, forum rewards were often sent in tens of thousands or hundreds of thousands of doge, and I missed a great opportunity to get rich. Influenced by Elon Musk's tweet over the weekend, $Doge only rose by 5%, and the power of recommendations is getting weaker. Previously, it was at least a 15-point increase. Who would have thought that Baby Doge, the son of Dogecoin, soared by 60 points, and then another 35 points yesterday. Who can stand this?
It seems that there are many short sellers, all pushing up fuel prices. Babydoge is a meme coin that was initially created as a joke, mainly used to establish a fun meme community and promote awareness of animal welfare and pet adoption. I think it's better to stay at zero; the pump's increase doesn't feel significant.
There are too many dogs on the market, with Dog Dad hats and Dog Baby making people dizzy. Which dog do you like? Feel free to leave a message.
