The total Crypto market capitalization (Total) and Bitcoin (BTC) crashed in the past 24 hours, which has resulted in more than a billion dollars in liquidations. Altcoins followed by the step with Story (IP) leading the drop, marking a draw of 30% today.
In the news today: –
The total market capitalization of cryptography has dropped sharply, losing $ 150 billion in the last 24 hours to settle at 3.70 billions of dollars. Despite the heavy decrease, the total still holds above the crucial level of support of 3.67 billions of dollars, which remains the key to prevent the disadvantages of future sessions.
The wider weakness comes from macroeconomic concerns. The Warning of the Fed Chair, Jerome Powell, on the risks of inflation and the slowdown in labor market conditions rocked investors. This lowering feeling has accelerated sales through digital assets, erasing previous gains and pushing the cryptography market more deeply in a fragile position while traders weigh exposure to risk.
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If the total does not defend 3.67 billions of dollars, a slide around 3.58 billions of dollars is possible, exposing the market to sharper decreases. However, a rebound greater than 3.73 billions of dollars would positively change the momentum, allowing the total to recover around 3.81 billions of dollars and potentially establish a stronger base for renewed growth.
The Bitcoin price is $ 109,357 at the time of writing the time of the editorial staff, sliding under heavy liquidation pressure worth $ 1 billion. The Crypto King fell strongly from $ 113,200 in the last 24 hours, highlighting the intensifying downside that weighs down the larger digital asset market.
BTC now below the $ 110,000 mark, its trajectory points to the $ 108,000 support area. If the lowering market conditions persist, Bitcoin could resume this level soon. Such a decision would strengthen the downward trend in progress and add additional pressure to investors already struggling with increased volatility and generalized liquidations.
If the market manages a reversal, recovering $ 110,000 as support becomes crucial for the resumption of Bitcoin. The retirement of this threshold would improve the feeling, creating a momentum for BTC to test the level of resistance of $ 112,500. The successful violation of this prize would invalidate the lower thesis.
