April 12, 2024 5:10 p.m. | 2 minute read |
Major cryptocurrencies fell on Friday, with $877.8 million liquidated in the crypto derivatives market.
what happened: The virtual currency market has been weighed down by risk-off sentiment in traditional markets due to rising geopolitical risks. U.S. stock markets fell on concerns about escalating conflict in the Middle East after U.S. officials suggested Iran could prepare a major attack on Israel.
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Currently, the global cryptocurrency market capitalization is $2.53 trillion, down 3.35% in the past 24 hours.
In total, over $877.8 million in positions were liquidated, with $841.6 million alone disappearing in the past 12 hours. Long positions over the past 14 hours amounted to $782.5 million.
A total of 276,647 traders were liquidated, with the largest single liquidation occurring on OKX with an ETH-USD-SWAP value of $7.19 million.
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Analyst notes: Crypto, Stocks and Markets Educational Account high income earner He said Bitcoin traders and investors should set alerts at $60,000 and $74,000 and walk away.
Cryptocurrency traders who are followed by many people cold blooded scillah said in detail X The current market is “offering deep discounts to some markets in a bullish market,” he posted.
He further added that any aggressive moves in the market are likely to lead to a chop or continued sell-off, making it very important to manage risk, and that there may not be an “immediate V-shaped recovery.” He said he understood. Investors need to avoid being “fragmented by the time it takes to make the next big move.”
“This is building an opportunity zone,” his tweet concluded, although not immediately. “Now is not the time to be overexposed. There is plenty of time to build.”
what's next: The impact of Bitcoin as an institutional asset class will be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on November 19th.
Read next: Peter Schiff predicts Bitcoin ETF will lead to 'biggest crash in history'
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