“The Sharp Reversal From Above $ 106,000 Wiped Optimism, With Bulls and Bears MOSTLY Continuing in a Stalemate.”, – WRITE: www.coindesk.com
Sliding Below $ 103,000 from The $ 106,500 Level Just Hours Earlier.
AT Press Time, Bitcoin Had Pared Some of the Losses, Returning to $ 103.200, Down 1.2% Over The Past 24 Hours.
Other Large Cryptocurrencies Endured Steeper Decklines. Ethereum’s Ether
SAW A Sharp 4.5% Drop in Just 90 Minutes to As Low As $ 2,372, With Trading Volume Spiking to Nearly 800,000 ETH, Nearly Eight Times The AVERAGE Hourly Volume, Per Coindesk Data. Solana’s Sol
Dogecoin
and Cardano’s Ada
Were 3% -5% Lower Over the Same Period.
The volatility Burst Caunght Many Traders Off-Guard, Liquidating About $ 450 Million in Derivatives Trading Positions on Centralized Exchanges Across All Digital Assets, Coinglass DataS. Some 387 Million of Liquidations Were Tied to Long Positions That Bet On Profiting from Rising Prices.
While Macro Risks Abound – Among Them the Ongoing Conflict Between Israel and Iran – There Was No Immedite External Reason for the Sudden Price Swing. The S&P 500 and The Nasdaq 100 Indexes Only Inchad Lower During the Day.
Bitcoin at StalemateZooming Out, BTC Continues to Trade with A Sideways Range Between $ 100,000 and $ 110,000, Consolidating Just Below ITS All-Time Record Level.
“The Mixed View of Wheth Btc Will Go Above $ 110,000 Again or Drop Into the $ 90,000 Area Doesn’t Surprise me at all and underscores the Overall Indecision of Chief Operation Officer at Unity Wallet.
“The Present BTC Stalemate Reflects a Market Caunght Between Bullish Long-Term Sentiment and Short-Term Macroeconomic and Geopolitical Uncertainty,” He Added.
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