"Bitcoin and Ethereum rebounded strongly, and the entire network liquidated more than 260 million US dollars."
Bitcoin and Ethereum put on a stunning show of price action last night.
Bitcoin jumped from a low of $40,542 to a peak of $42,750, and Ethereum also successfully returned to the $2,200 mark. This is not only a thrilling event for the digital currency market, but also a major test of investor sentiment.
Bitcoin fell to a low of $40,542 last night, leaving many investors concerned about whether it would fall below the $40,000 mark again. However, Bitcoin did not give in, but showed a strong rebound, reaching a high of $42,757 early this morning, recouping nearly three days of losses.
It is currently quoted at $42,532, with a 24-hour increase of 1.88%.
Whether the rally can continue in the market outlook still needs to be closely observed. Ethereum also followed Bitcoin's lead and fluctuated upwards, reaching a maximum of $2,224 early this morning, regaining the $2,200 level. As of now, there are 43,000 Bitcoins
Most of the top ten currencies narrowed their losses. According to CoinMarketCap data, the top ten currencies all fell with Bitcoin yesterday, but most of them rebounded today, with SOL and ADA recording 2~3%. positive gains.
Both longs and shorts were killed, and the amount of liquidated positions on the entire network doubled. The sharp fluctuations in Bitcoin caused casualties to both longs and shorts.
According to data from Coinglass, 112,922 investors were liquidated in the past 24 hours, with the total liquidation amount reaching $266 million across the network, more than double yesterday’s amount.
Among them, BTC had the highest liquidation amount, reaching US$76.72 million, and ETH ranked third with US$39.88 million.
Factors behind currency price trends Bitcoin’s rebound may have been affected by the U.S. Federal Reserve’s interest rate decision and micro-strategy’s currency purchase plan, while Ethereum benefited from its network upgrade and the development of decentralized finance.
However, the market is still full of uncertainty and volatility, and investors should operate with caution and avoid using excessive leverage.
In this world of digital currencies, every turn can have huge consequences. Facing such violent price fluctuations, we need not only calm analysis, but also firm belief and keen insight.
This time, let us witness the power of digital currency and realize the volatility of the market. But no matter how the market changes, we should keep a clear head and be fully prepared.
