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#BTC #ETH #BONK #NewsBTC #NewSignal 👁️‍🗨️Understanding the Market Downturn In the last 24 hours, Bitcoin (BTC) experienced a notable 6% decline, reaching a local minimum of approximately $41,500, while Ethereum (ETH) saw a 2% decrease. Several alternative cryptocurrencies (alts) also recorded losses exceeding 3% during this period. ⤵️Factors Influencing the Decline:E TF Hype Subsidence: The abrupt decline in BTC prices can be attributed to the waning enthusiasm surrounding Exchange-Traded Funds (ETFs), prompting investors to capitalize on their profits. ♒liquidation of Long Positions: The downturn was further exacerbated by the liquidation of Long positions, totaling a significant $271 million. Influx of BTC to Exchanges: A notable surge of BTC onto exchanges was observed after January 10, a phenomenon typically associated with price depreciation. 🪬BTC's Resilience: Despite these challenges, BTC is actively seeking support above the $43,000 mark, indicating a potential safeguarding of its long-term growth prospects. Numerous positive catalysts are anticipated throughout 2024, contributing to the resilience of Bitcoin in the face of short-term market fluctuations.

#BTC #ETH #BONK #NewsBTC #NewSignal 👁️‍🗨️Understanding the Market Downturn

In the last 24 hours, Bitcoin (BTC) experienced a notable 6% decline, reaching a local minimum of approximately $41,500, while Ethereum (ETH) saw a 2% decrease. Several alternative cryptocurrencies (alts) also recorded losses exceeding 3% during this period.

⤵️Factors Influencing the Decline:E

TF Hype Subsidence: The abrupt decline in BTC prices can be attributed to the waning enthusiasm surrounding Exchange-Traded Funds (ETFs), prompting investors to capitalize on their profits.

♒liquidation of Long Positions: The downturn was further exacerbated by the liquidation of Long positions, totaling a significant $271 million.

Influx of BTC to Exchanges: A notable surge of BTC onto exchanges was observed after January 10, a phenomenon typically associated with price depreciation.

🪬BTC's Resilience:

Despite these challenges, BTC is actively seeking support above the $43,000 mark, indicating a potential safeguarding of its long-term growth prospects. Numerous positive catalysts are anticipated throughout 2024, contributing to the resilience of Bitcoin in the face of short-term market fluctuations.

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#SHIB SHIB Burns On Fire As Price Gets on Verge of Breakout SHIB $0.00002185 -2.50% The Shiba Inu community continues to relentlessly burn SHIB meme coins no matter what. This time, a substantial amount of SHIB has found its way into dead wallets despite the major decline in the key Shibariummetric. Meanwhile, the SHIB price continues its attempts to break out of the range. Millions of SHIB destroyed According to the recent update on the website of the popular burn tracker Shibburn, within the last 24 hours, the SHIB army has successfully transferred tens of millions of SHIB to unspendableblockchain addresses – 24,360,186 meme coins were locked permanently out of the circulating supply. This has driven the burn rate of this meme cryptocurrency up by 25.92%, in accordance with the data published by the above-mentioned source. The two largest burn transactions here carried 20,000,000 and 4,161,487 SHIB, burning nearly all of the SHIB that were destroyed this time. Shibarium's key metric plummets The Shibariumscan explorer has shared that one of the key metrics of this layer-2 solution built on top of Ethereum by the SHIB team has plunged again after displaying massive growth earlier this week. The daily transaction count dropped to reach 359,090 transfers on April 16 after soaring almost 3x the day before to hit 958,440 daily transfers. That tremendous increase took place after the metric collapsed to 5,630 on April 10. With the daily transfer count moving slowly, the overall transaction number on Shibarium is also growing at a very slow pace, having reached 416,130,727 by now, adding approximately a million transfers over the past few weeks. This slowdown in Shibarium’s utility has been witnessed despite recent major partnerships inked by the Shiba Inu team with major partners and the total number of accounts on Shibarium soaring to over 100,000 from approximately 75,000 within just several days earlier in April.
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