Ethereum

Cryptocurrency

Cardano

Bitcoin

The cryptocurrency market is one where sharp fluctuations are experienced from time to time. Rapid movements bring significant drops and rises. After a drop that started at 02:00 at night and almost reached $4,000 in <a href="https://en.coin-turk.com/argo-blockchain-reduces-net-loss-in-2023-amid-challenging-market-conditions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC), the market began to wonder what would come next. The sharp decline in BTC has also affected altcoins.
<h2 style="text-align: justify" id="bitcoin-fell-to-40-400">Bitcoin Fell To $40,400</h2>
With the decline we mentioned happened during the night, BTC dropped to $40,600, and we see a quick recovery afterwards. The reaction to the sharp movement in BTC, which was approximately $4,000, brought the BTC price up to $42,371 at the time of writing.
<img loading="lazy" decoding="async" loading="lazy" class="wp-image-287154 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/btc-kriptopara-cointurk-1.png" alt="" width="1428" height="795">
Sharp movements in the price led to the liquidation of a position of $97 million focused on short and long in Bitcoin, according to Coinglass data. In Ethereum, the liquidated amount was slightly over $80 million.
<img loading="lazy" decoding="async" loading="lazy" class="alignnone wp-image-287155 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/coinglass-verileri-cointurk.png" alt="" width="1898" height="851">
<h2 style="text-align: justify" id="sharp-fluctuations-in-altcoins">Sharp Fluctuations in Altcoins</h2>
The sharp drop in Bitcoin and the rapid recovery afterwards also led to a similar process for altcoins. At the time of writing, Ethereum fell to a level of $2,160. With the reaction purchases following, the ETH price also came to the level of $2,150 as of writing.
Looking at the leading cryptocurrencies, XRP is trading at $0.62, while Solana is trading at $70. Cardano (<a href="https://en.coin-turk.com/crypto-market-faces-tremors-sec-leaked-opinion-triggers-potential-massive-altcoin-sell-off/" data-wpel-link="internal" rel="noopener noreferrer nofollow">ADA</a>), which has experienced a rise of over 50% in recent days, is trading at $0.56.
With the volatility in the cryptocurrency market, we see that $390 million worth of long and short-focused positions were wiped out in the last 24 hours. Of these positions, $340 million are long-focused, while approximately $53 million are composed of short-focused positions.
In conclusion, a night of rapid recovery was experienced in both Bitcoin and altcoins. The recovery of prices may be a sign that upward movements may continue in the coming days. On the other hand, there is also a possibility that the price for BTC may stay within a range. This could be interpreted as a sign of a slight increase for altcoins. However, if a drop occurs in BTC, this will mean a decline for altcoins, as was the case with the movement experienced at night. Continue Reading: <a href="https://en.coin-turk.com/turbulent-cryptocurrency-market-witnessing-major-fluctuations/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/turbulent-cryptocurrency-market-witnessing-major-fluctuations/</a>

Turbulent Cryptocurrency Market Witnessing Major Fluctuations

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