Solana

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 <p class="paragraph">The cryptocurrency <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> turned red in the past few days with the largest losses happening in the last 24 hours. This retracement came amid concerns about what some investors suggest are signals of crypto reaching a local top.</p>
 <p class="paragraph">In particular, over $230 billion vanished from crypto’s total market cap amid over $650 million in liquidations.</p>
 <p class="paragraph">First, <em>TradingView</em>’s Cryptocap 4-hour chart index shows the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> has lost $233.33 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> of capitalization in 24 hours. The total <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> value dropped from $2.508 trillion to as low as $2.275 trillion by press time.</p>
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   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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    US economist predicts Bitcoin’s ‘catastrophic crash’ due to ETFs <span class="self-center text-xs text-slate-500">34 mins ago</span>
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    Here's how much Andrew Tate made in last crypto bull run <span class="self-center text-xs text-slate-500">3 hours ago</span>
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 <p class="paragraph">Bitcoin (BTC) had significant protagonism in this crash as the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>’s leader and with a capitalization dominance superior to 53%. Specifically, BTC lost $100 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> of its value from $1.342 trillion to $1.242 trillion capitalization in 24 hours.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/03/19/fbad512a7b30a9b28fe6a438eb160a8e.webp" alt class="wp-image-162070" srcset="https://cdn.thebittimes.com/images/2024/03/19/fbad512a7b30a9b28fe6a438eb160a8e.webp 1024w, https://cdn.thebittimes.com/images/2024/03/19/fbad512a7b30a9b28fe6a438eb160a8e.webp 300w, https://cdn.thebittimes.com/images/2024/03/19/fbad512a7b30a9b28fe6a438eb160a8e.webp 768w, https://cdn.thebittimes.com/images/2024/03/19/fbad512a7b30a9b28fe6a438eb160a8e.webp 1536w, https://cdn.thebittimes.com/images/2024/03/19/fbad512a7b30a9b28fe6a438eb160a8e.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
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   4-hour charts: Total crypto market cap index and BTC market cap. Source: <em>TradingView</em> (Finbold)
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 <h2 class="wp-block-heading" id="h-over-655-million-crypto-liquidations-in-24-hours">Over $655 million crypto liquidations in 24 hours</h2>
 <p class="paragraph">In the meantime, the crash liquidated more than 244,000 cryptocurrency traders in the past 24 hours, according to <em>CoinGlass</em> data. Over $655.31 million worth of liquidations registered the bloodbath traders experienced.&nbsp;</p>
 <p class="paragraph">Interestingly, over $538 million were in long positions, causing a long squeeze Finbold has been warning about since early March.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="362" src="https://cdn.thebittimes.com/images/2024/03/19/33a96fe390b44248364c4cb9e3799ddc.webp" alt class="wp-image-162071" srcset="https://cdn.thebittimes.com/images/2024/03/19/33a96fe390b44248364c4cb9e3799ddc.webp 1024w, https://cdn.thebittimes.com/images/2024/03/19/33a96fe390b44248364c4cb9e3799ddc.webp 300w, https://cdn.thebittimes.com/images/2024/03/19/33a96fe390b44248364c4cb9e3799ddc.webp 768w, https://cdn.thebittimes.com/images/2024/03/19/33a96fe390b44248364c4cb9e3799ddc.webp 1536w, https://cdn.thebittimes.com/images/2024/03/19/33a96fe390b44248364c4cb9e3799ddc.webp 1850w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Liquidation heatmap in 24 hours. Source: <em>CoinGlass</em>
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 <p class="paragraph">Moreover, nearly $500 million out of the $655 million happened in the past 12 hours, with $419 million of them also from longs.</p>
 <h2 class="wp-block-heading" id="expert-raises-concerns-for-crypto-top-signals">Expert raises concerns for crypto ‘top signals’</h2>
 <p class="paragraph">In this context, investors speculate whether cryptocurrencies have finally reached a local top after months of a bull rally.&nbsp;</p>
 <p class="paragraph">The meme coin boom could have been one of these “top signals,” as reported by Finbold during the weekend. However, other well-known investors and finance experts have revealed similar concerns as the market crashed.</p>
 <p class="paragraph">For example, Scott Melker says he can now spot relevant “top signals” that he usually looks for when not under high emotions like the Fear of Missing Out (FOMO). Melker cites the meme coin boom as a signal but also overbought altcoins and bearish divergences in multiple technical indicators.</p>
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    <p lang="en" dir="ltr">I have some concerns. <br><br>Fundamentally, with the ETF interest and the cycle ramping up, I want to believe that we go much, much higher. <br><br>However… most of the top signals I would normally look for when I am not FOMOing are present – meme coins going insane, huge run on alts to…</p>— The Wolf Of All Streets (@scottmelker) March 18, 2024
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 <p class="paragraph">In conclusion, the market could have reached a local top despite the Bitcoin ETFs’ increased popularity. Meanwhile, Scott Melker and other investors believe retail is yet not paying attention to the “top signals” as they should.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-market-turns-red-as-230-billion-wiped-in-a-day-tbt82934.html">https://thebittimes.com/crypto-market-turns-red-as-230-billion-wiped-in-a-day-tbt82934.html</a></p>

Crypto market turns red as $230 billion wiped in a day

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