A significant downturn hit the crypto market, with Bitcoin and other major tokens witnessing sharp declines. Bitcoin dropped to just above $95,000, a 5% decrease, while Ether fell by 10%. The broader CoinDesk 20 Index reported an over 8% decline, notably impacted by approximately 20% drops in Cardano, Avalanche, and XRP. The market’s tumult resulted in over $750 million in leveraged derivatives positions being liquidated, indicating a high volume of bullish bets were wiped out. This market behavior signals a potentially brief consolidation phase before a possible rebound, necessitating strategic trading adjustments.
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Publish date : 2024-12-10 08:22:00
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