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The co-founder of Bitmex, Arthur Hayes, warned that the market leader Crypto Bitcoin (BTC) could fall at $ 78,000 after a “ugly start of the week”.
“If he fails, $ 75,000 is the next in the reticle,” he said in a post on March 10.
Hayes added that Bitcoin fall to $ 70,000 and $ 75,000 could cause “violent” volatility due to many options open in this range.
More than $ 619 million liquidated in the form of bitcoin and cryptographic market
Hayes’ message occurs after Bitcoin’s price went from a summit of $ 86,115.43 to a minimum of $ 80,052.49 in the last 24 hours. It has since recovered slightly to exchange at $ 82,114.84 to 1 h 08 hne, down 4% in the last 24 hours, according to CoinmarketCap data.
BTC correction coincided with a broader cryptography market during the same period. Every 10 largest cryptos by market capitalization have suffered 24 -hour losses, with the chief of the room even, Dogecoin (Doge) displaying the greatest drop after a blow of more than 8%.
With the drop in prices observed in the last 24 hours, more than $ 619 million has been liquidated, according to data from Glass nose.
The majority of transactions that were liquidated were long positions, representing more than $ 526 million in the liquidated amount.
The index for fear of crypto and greed signals “extreme fear”
The feeling of investors has also become more frightening in the last 24 hours, with the Index for fear of crypto and greed Diving seven points from a reading of “fear” in “extreme fear”.
The merchant and renowned analyst Michael Van de Poppe, with more than 782,000 subscribers on X, suggested yesterday that the market correction was due to whales, which lower prices so that they can “have so much” crypto As they can investors at reduced prices.
Classic move Sunday to empty the markets.
Large guys want prices to drop as much as possible to remove you.
Just hold your #Bitcoin & #Altcoins.
– Michaël Van de Poppe (@cryptomichnl) March 9, 2025
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