The last 24 hours in the crypto market have been a real test for traders. 🔥 The price of Bitcoin unexpectedly collapsed from a record $103,000 to $92,000, triggering a wave of liquidations totaling more than $1 billion! 💸 Traders betting on the rise of XRP and Dogecoin were particularly hard hit, with losses reaching tens of millions of dollars. 😱
Bitcoin, which just yesterday delighted everyone with new records 🏆, suddenly plunged. 📉 The main reason was the active profit-taking by large players and the collapse of long positions. 💔 As a result, exchanges recorded liquidations amounting to $500 million just for BTC, of which $420 million were long positions. 😬
Ethereum holders also suffered losses, although smaller — $85 million. However, the biggest losses were incurred by XRP and DOGE futures: their combined losses reached $50 million. 🤯 The multi-week rally of these tokens ended with a sudden reversal. ⚡
The largest liquidation was recorded on the OKX exchange — a BTC/USD trade worth $18 million. 🤑 A total of 156,000 traders were affected that day, 89% of whom held long positions. 🥺
What does this mean? 🤔 Liquidations occur when leveraged traders cannot maintain their positions, and exchanges forcibly close them. 🚫 This leads to a snowball effect of selling and intensifies the decline.
Moreover, the popular fear and greed index has dropped from 'Extreme Greed' to 'Greed' — the lowest value in the last 30 days. 😟 This indicates that market participants have become more cautious, and volatility is starting in the market. 🌪️
For traders, this day served as a reminder that the cryptocurrency market is a real roller coaster. 🎢 Volatility, sharp declines, and surprises are always close by! 🚀
But there is good news too! 🌞 After such sharp corrections, the market often finds a local bottom, and this could be an opportunity for new purchases. 🛒📈
Tips for traders on how to survive such days:
1️⃣ Reduce leverage — less risk, more chances to stay in the market! 😌
2️⃣ Keep an eye on the fear and greed index — opportunities are hidden in fear. 👀
3️⃣ Don’t rush into decisions — analyze the market and don’t give in to panic! 🧠💡
The cryptocurrency market always surprises, but that’s exactly why we love it. 💕 Be cautious, trade wisely, and always remember: the sun always comes out after the rain! ☀️✨$BTC
