“MOST Cryptos Have Taken Out Their Sunday Flash Crash Lows Late in the US Session on Monday.”, – WRITE: www.coindesk.com
The Largest Crypto’s Recovery Attempt Was Quickly Rejected at $ 113,000 Durying The USSESION, AND IT FELL Precipitously to a Seven-Week Low, Coindesk Price Data Shows. Recently, BTC Traded at $ 109.700, Down 2.7% Over The Past 24 Hours and Lower by About 7% Since Soaring Above $ 117,000 In Wake of Fed Chair Jay Powell’s Dovish Friday Jackson Jackson Jackson Jackson Jackson J.
While Majoor Altcoins Held Up Relativly Well Durying the Sunday Crash, They Succumbed to the Market Weakness on Monday. Ethereum’s Ether (ETH) PlumMeted Nearly 8% Over The Past 24 Hours Below $ 4,400. Solana’s Sol (Sol), Dogecoin Doge$ 0.2104Cardano Ada$ 0.8405Chainlink LINK$ 23.43 Also Declined 6%-8%.
Today’s Price swing Liquidated Nearly $ 700 Million in Leverted Trading Positions Across All Crypto Derivatives, Surpassing The Sunday Flush, Coinglass Data Shows. Some 627 Million of the Liquidated Trades Were Longs Anticipating Higher Prices.
What May Further Spook Traders is Weak Seasonality As the End of August Nears. September Has Brought Historically The Weakest Returns for BTC and ETH WITH 3.77% And 6.42% Losses on Average for the Month, Respectively, Per Coinglass Data.
Update (AUG. 25, 20:28 UTC): Adds Liquidation Data by Coinglass.
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Despite The Major Partnership, Link Declined 5% Over The Past 24 Hours Alongside the Broader Crypto Weakness.
- Chainlink’s Native Token, Link, Fell Over 6% To $ 24.4 Despite A New Partnership with SBI Group.
- SBI Group and CHAINLINK AIM to DELOP TOKENized Assets and Stablecoin Solutions in Japan.
- Technical Analysis Shows Resistance at $ 26.61 and Support at $ 24.37, Indicating Bearish Momentum.
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