5 Reasons Why Crypto Market Crashed, Bitcoin Profit Taking Has Started
28 January 2025 Crypto market crashes often show high volatility influenced by various factors, ranging from historical trends to macroeconomic policies. Here are five main reasons that influence crypto market crashes, focusing on Bitcoin profit-taking. When this article was written on Tuesday (28/01/2025) early morning, the price of Bitcoin was perched in the range of US$99,800, after dropping to its lowest point of US$97,732 on Monday (27/01/2025) evening, below the psychological level of US$100 thousand. In the past week, the price of Bitcoin has fallen by more than 5 percent. This was followed by other cryptos. Cumulatively, the market value of crypto fell by more than 5.38 percent in the past day to around US$3.41 trillion.
Bitcoin Could Reach US$700K? This is What BlackRock Boss Says!
Amid the crypto market enthusiasm, BlackRock CEO Larry Fink recently stated that Bitcoin has the potential to reach US$700 thousand. However, paradoxically, the price of Bitcoin has actually decreased. This situation raises various questions among investors, especially regarding what is actually happening in the crypto market today. Larry Fink and the Potential of Asset Tokenization At the Davos summit, Larry Fink discussed the future of digital assets, including the idea of tokenizing stocks, bonds and commodities. According to Fink, this would instantly democratize the market.
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Shiba Inu (SHIB) continues to demonstrate its commitment to increasing long-term value with various strategic moves. One significant move is the increase in the token burn rate, reflecting the community's dedication to reducing the circulating supply and an interesting pattern for a potential 5-fold increase. Additionally, the big announcement about the expansion of the Shiba Inu ecosystem signals a transformation from just a memecoin to a more serious technology platform. SHIB Burn Increase for Higher Value
Crypto Market Drops Sharply, Opportunity or Disaster?
In recent days, the crypto market has experienced a significant decline, with total liquidations reaching more than US$600 million. This decline has raised concerns among altcoin investors. However, some analysts believe that this situation could be an opportunity in the long term. Pressure on Bitcoin and the Majority of the Crypto Market Bitcoin price has plummeted below $95,000, even approaching $90,000. According to analyst Cody of Altcoin Buzz, the worst-case scenario could see Bitcoin price go to $85,000 or lower.
Investors have liquidated XRP, Ripple's cryptocurrency, worth US$1.6 billion with 695 million tokens sold amid a stagnant market situation for the past 6 weeks.
This is because XRP investors are worried about the stagnation of XRP prices with increasing dissatisfaction, leading to increasing selling pressure.
The latest data from CoinMarketCap states that the price of XRP has been observed to increase 14% in the past seven days, but has entered a consolidation phase, with prices between US$2.34 and US$2.46 for the past six days.
This phenomenon is indeed common during prolonged consolidation phases. However, despite the increasing sales from short-term investors, there are still many long-term holders who maintain their XRP.
If profit-taking efforts from investors increase, the XRP support zone looks dangerous because it could push it from a neutral situation to a bearish one. This will cause many losses for investors, both long-term and short-term investors. #xrp
AI Coin is now a favorite among crypto traders and investors. After the meme coin trend that once dominated, now it's the turn of AI tokens that are starting to attract attention. Based on the latest data from CoinMarketCap, the market capitalization of AI coins recorded a significant spike throughout 2024. Its value, which was previously at US$20 billion, has now soared to US$50 billion. With a two-fold increase in just under a year. Many predict that AI-based projects will dominate the crypto market by 2025. For those of you who are interested, here are the best AI coin recommendations this week.
How to Earn $9 Daily Using Binance Red Packets, Square Points, and Engagement Strategies
If you're looking to earn $9 a day through Binance, leveraging Red Packets, Square Points, and daily engagement activities can help you achieve this goal. Here's a step-by-step guide to maximize your earnings: 1. Earn Quickly with Binance Red Packets What Are Binance Red Packets? Red Packets are digital giveaways provided by Binance during special events, promotions, or celebrations. These packets often contain small amounts of cryptocurrency, which you can claim for free. How to Earn Through Binance Red Packets: Stay Alert for Promotions: Binance frequently shares Red Packets during product launches, festivals, or other campaigns. Keep an eye on Binance's Telegram channels, Twitter, and app notifications for announcements. Join Community Activities: Red Packets are often shared during live events, community challenges, or AMAs (Ask Me Anything) on Binance's official platforms. Claim the Rewards: Use the Binance app’s "Gift & Campaign" section to redeem Red Packet codes or links shared during these events. Tips to Maximize Your Earnings: Participate in multiple campaigns to claim as many Red Packets as possible. Act quickly—Red Packets are often limited in quantity and have short expiration periods. --- 2. Leverage Binance Square for Points and Engagement Rewards What Are Binance Square Points? Binance Square is a community platform for sharing cryptocurrency insights, strategies, and knowledge. By engaging with the platform, you can earn Binance Square Points, which can be redeemed for rewards or used to boost your profile. Ways to Earn Binance Square Points: 1. Create Valuable Content: Share educational posts about cryptocurrency, Binance products, or trading strategies. Focus on current trends to attract engagement. 2. Engage with the Community: Actively participate in discussions, comment on posts, and provide helpful answers to other users. Quality contributions may earn tips from the community. 3. Join Campaigns and Contests: Binance Square frequently hosts quizzes, content challenges, and special events where top participants win Binance Points or cryptocurrency rewards. 4. Earn Tips for Quality Posts: Create insightful content that encourages others to tip you Binance Points. Strategies to Maximize Your Earnings: Post high-quality content regularly to maintain visibility in the community. Log in daily and maintain an activity streak to earn additional rewards. --- 3. Combine Strategies to Reach $9 Daily By participating in both Red Packet campaigns and Binance Square activities, you can accumulate rewards quickly. Here’s a suggested daily plan: 1. Claim Red Packets: Participate in at least 2–3 Red Packet campaigns each day. Depending on the campaign, rewards can range from a few cents to $5. 2. Earn Binance Points: Dedicate time to creating content, engaging with posts, and joining contests on Binance Square. Participate in at least two campaigns daily for consistent rewards. 3. Complete Binance Tasks: Binance occasionally offers daily tasks such as quizzes or referral programs that can add to your earnings. By staying consistent and active across these platforms, reaching $9 in daily earnings is achievable. ---
Earning $9 daily on Binance is possible with a strategic approach that combines Red Packets, Binance Square Points, and engagement in community activities. Stay updated on Binance’s events, contribute valuable content, and participate in promotions regularly to build a steady stream of rewards.
The *cryptocurrency* market recorded a liquidation of US$635.5 million or equivalent to Rp10.2 trillion in the last 24 hours. As a result, the price of Bitcoin (BTC) fell by 5.4% and returned to the level of US$96,323 from the previous US$101,890, Wednesday (08/01).
It is known that this liquidation involved around 208,144 *traders*. In detail, most of the liquidations came from *traders* who held *long* positions with a total value of US$574.2 million. Meanwhile, the *short* position only contributed to the liquidation of US$61.2 million.
This decline in the price of Bitcoin occurred after the yield on 10-year US bonds jumped, which was triggered by the December *Purchasing Managers Index* (PMI) data. This then raises concerns that inflation will remain high which could delay interest rate cuts by the Federal Reserve (The Fed).
On the other hand, BlackRock, a US investment management company, is known to have bought 6,200 Bitcoins worth around US$596.1 million, Tuesday (07/01).
For information, Bitcoin is not the asset that is most liquidated because it only contributed US$111.8 million. The rest is filled by Ethereum (ETH) of US$138.6 million. Other crypto assets actually recorded the most liquidations reaching US$151.4 million.
The *exchange* that contributed the most liquidations was Binance with US$101.2 million, followed by Bybit, OKX, and HTX which each recorded liquidations of US$25.1 million, US$24.7 million and US$4.6 million. This shows the very high level of volatility of *cryptocurrency*.