Currently, the crypto market is experiencing a substantial dip, causing the value of Bitcoin (BTC) to drop by over 4%, from approximately $103,000 to about $97,900.
In the past day, a significant drop in prices has hit the leading digital currencies. Ethereum‘s ether decreased by approximately 7%, while XRP saw a decline of over 5%. Solana experienced an even steeper fall, dropping by more than 6%. Among the top cryptocurrencies, Avalanche (AVAX) and Chainlink (LINK) have been particularly affected, with each falling by over 9% in this timeframe.
In just one hour recently, the value of liquidated positions in the cryptocurrency market has skyrocketed beyond $150 million, a substantial amount that contributed to approximately $388 million in 24-hour liquidations as reported by CoinGlass.
At present, the cryptocurrency market is facing a drop, primarily due to some key factors such as a dip in conventional markets. For instance, the S&P 500 saw a decrease of approximately 0.3% during today’s trading, while the NASDAQ experienced a decline surpassing 1%.
10-year Treasury yields have seen a substantial increase recently, with the rate climbing approximately 5 basis points to reach 4.683%. This spike occurred as American job openings exceeded forecasts in November, which could indicate that the U.S. labor market might be easing.
Moreover, the sale of portions of their accumulated assets by investors who have held them for a long time and have made substantial profits might be putting pressure on prices to decrease.
Read More
- Blake Lively Vs Justin Baldoni: Drawing Parallels Between Amber Heard And Blake Lively’s Legal Battles
- NPC PREDICTION. NPC cryptocurrency
- Taylor Swift vs. Ariana Grande: What is The Fan War Surrounding Sabrina Carpenter All About, Let’s Find Out
- ‘I Just Stopped Him’: Florence Pugh Shares Her Experience of Going Bald For Andrew Garfield Starrer We Live in Time
- Fans Believe that the New ‘Agatha All Along’ Promo Reveals the True Identity of Aubrey Plaza’s Rio Vidal
- ‘Wicked: The Graphic Novel Part I’ Releases in March with a 75,000-Copy Debut
- Brent Oil Forecast
- Is The Beatles’ Manager Brian Epstein Getting A Biopic Of His Own? Here’s What Report Says
- The Bold and the Beautiful Spoilers: Will Luna Hold Katie Responsible for Poppy’s Arrest?
- Fact Check: Did Janet Jackson Apologize For Supporting Kamala Harris Conspiracy Theory Claiming She Is ‘Not Black?’ Here’s What We Know
2025-01-07 19:22