Over the past 48 hours, cryptocurrency markets have seen significant volatility, with several noteworthy events and developments:
- **Group drop in cryptocurrency prices:** The value of several cryptocurrencies, led by Bitcoin, fell after the US president-elect denied his support for cryptocurrencies. Bitcoin lost about 4% of its value, while Ethereum, Ripple, and Solana fell by rates ranging from 5% to 8.5%. This decline came after US economic reports increased bond yields, prompting investors to avoid risks.$BTC
- **Impact of US economic reports:** Economic signals such as PMI and JOLTS reports contributed to a 6.5% drop in the value of the global cryptocurrency market within 24 hours. These indicators led to a revision in investors’ expectations about a rate cut by the Federal Reserve.
**Market Action and Liquidation:** Over $200 million worth of liquidation was recorded in one hour after Bitcoin price dropped below $100,000, which was reflected in other major coins such as Ethereum and Solana with similar declines.
**Exchange Monitoring:** Trading platforms like Binance saw an increase in trading volume, as traders tried to exploit the volatility to make short-term profits.
- **Investor Analysis and Predictions:** Analyses have begun to circulate about whether the current decline is the beginning of a major correction or just a temporary setback before the rise resumes. Some analysts believe that the impact of economic news may be short-lived, while others warn of long-term effects on the value of digital currencies.
It should be noted that this information is based on news and analysis available on the Internet and through monitoring the markets and is not investment advice.
