💸 What Caused Over $200M Worth of Liquidations in Last 24 Hours📉🤔
In the fast-paced world of crypto, late Sunday's correction of over 2.5% in Bitcoin (BTC) triggered a cascade of liquidations, totaling a whopping $200 million in the past 24 hours. Let's unravel the factors contributing to this market turbulence.
🔍 The Liquidation Fallout: $200M Wiped Out!
As Bitcoin faced a 2.5% correction on Sunday, the crypto landscape witnessed liquidations worth $200 million within the last 24 hours. Long positions bore the brunt of $172 million in losses, while short positions saw over $40 million evaporate amid the market downturn.
📊 Crypto Liquidations Snapshot: Source - Coinglass
💡 Spotlight on F2Pool's Moves: A Mining Pool's Impact on Volatility
In an intriguing turn of events, F2Pool, a prominent mining pool, deposited a substantial 1,000 Bitcoins to Binance during BTC's decline. This move, totaling $87.72 million, added a layer of complexity to the market dynamics. Analysts are closely watching such on-chain activities for insights into crypto price movements.
🔗 Insight from Lookonchain: "F2Pool deposited 1,000 BTC to Binance during the BTC price drop."
📈 Bitcoin's Resilience: Support Holds at $42,560 - $43,245 Range
Despite the market jitters, Bitcoin showcased resilience by quickly rebounding, finding strong support in the range of $42,560 to $43,245. The crypto community is now on the edge, awaiting the final announcement on the highly anticipated spot Bitcoin Exchange-Traded Fund (ETF) expected this week.
🚀 Navigating the Crypto Storm: What Lies Ahead? 🌐⚡
With market uncertainties and pending announcements, crypto traders and enthusiasts brace for potential shifts. As we navigate this storm, stay tuned for updates and insights to make informed decisions in the ever-evolving crypto space.
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