Today, the cryptocurrency market has demonstrated significant fluctuations accompanied by important events and statements.
Key events of the day:
• Bitcoin ($BTC ): During the day, the price of Bitcoin surpassed the $99,000 mark, reaching $99,007, reflecting a growth of 5.51% over the last 24 hours.
• Ethereum ($ETH ): The price of Ethereum has also increased, exceeding $3,500, which represents a growth of 6.42% over the day.
• Liquidation volume: In the last 24 hours, positions worth $246 million were liquidated in the crypto market, of which $151 million were short positions and $94.57 million were long positions.
• Solana ($SOL ): Decentralized exchanges on the Solana blockchain have demonstrated trading volumes exceeding $100 billion for the second consecutive month, indicating growing interest in this ecosystem.
Analytics and forecasts:
According to QCP Capital, market volatility is expected to remain stable until the end of the year. Significant resistance levels for Bitcoin are $84,000, and for Ethereum — $3,000. However, as in previous years, annual resistance levels may become irrelevant.
Regulatory news:
The authorities of the Russian Federation plan to ban cryptocurrency mining in ten regions by 2031, which could significantly impact the industry in the country.
Recommendations for investors:
Given the current market volatility, it is recommended to exercise caution when investing and to closely monitor news and analytics to respond timely to changes in price dynamics.
Note: The cryptocurrency market is subject to high volatility. Only invest funds that you are prepared to lose.
