Bitcoin, Ethereum and Solana post losses in the middle of $ 633 million in liquidations.
The cryptocurrency market started the week in the red on Monday, May 19, while the traditional and decentralized financial sectors continue to undergo volatility.
Bitcoin (BTC) fell 1.2% over the day to $ 104,000, where he has oscillated since the week. Ethereum (ETH) fell by 4% to reach $ 2,463, slightly assumed after the solid rally last week led by pectra upgrade.
Solana (soil) recorded sharper losses, decreasing by almost 7% to $ 164, while XRP is down $ 3.8%.
The total market capitalization of cryptocurrency is down 3.5% over the day to around 3.42 billions of dollars. Lever effect liquidations amounted to $ 633 million during the same period, according to Coinglass. ETH continued to carry out liquidation with $ 258 million, followed by BTC at around 161 million dollars.
According to Sosovalue data, the BTC stock market funds, the BTC stock market funds attracted around $ 260 million on May 16, while the ETHEREUM ETFs brought in $ 22 million, according to Sosovalue data.
“We are in a period of strong uncertainty, where even traditional financial markets have become very focused on feeling,” said Dr. Kirill Kretov, Coinpanel. “In crypto, the situation is even more fragile; the liquidity has been widely removed, leaving the market thin and very sensitive to sharp movements.”
Dr. Kretov explained that this environment is ideal for large players to benefit from short -term volatility, rather than relying on long -term directional bets.
“We will continue to operate in this very volatile environment, where everything that is less than a 5% movement must be treated as a noise,” he said. “Learn to extract the benefits of this volatility, because it is only when the majority of market players will adapt to this reality that the market structure will begin to change.”
Digital asset investment products
Meanwhile, investment products in digital assets recorded $ 785 million at entry last week, bringing totals of the year to $ 7.5 billion and fully recovering the released outings between February and March, according to the Coinshares Fund Flows report.
Bitcoin paved the way with $ 557 million in admissions, although this marked a drop compared to the previous week. The report notes that this is probably due to the Bellician signals of the Federal Reserve.
However, it was Ethereum who stood out with $ 205 million in entries, again drawn by the upgrade of Pecctra. On the other hand, Solana was the only major asset to experience outings, totaling $ 0.89 million.
The United States, Germany and Hong Kong have led the entries, while Sweden, Canada and Brazil have experienced modest outings.
