Ethereum

Solana

Bitcoin

Bonk

<ul> 
 <li>The crypto market experiences a sharp downturn, with significant drops in Bitcoin and Ethereum prices.</li> 
 <li>Over $600 million in long and short positions have been liquidated amidst the market slump.</li> 
 <li>The global crypto market cap falls below $2.5 trillion, signaling a shift from boom to gloom.</li> 
</ul> 
<p><strong>In a dramatic turn of events, the cryptocurrency market faces a steep decline, with Bitcoin and Ethereum leading the fall and triggering over $600 million in liquidations, marking a stark transition from recent highs.</strong></p> 
<h2 id="strong-market-overview-a-sudden-downturn-strong"><strong>Market Overview: A Sudden Downturn</strong></h2> 
<p>Early Tuesday saw the cryptocurrency market painted red as Bitcoin fell by 7% and Ethereum by 10%, indicating a significant market correction. The global crypto market cap, which recently flirted with reaching its all-time high, has contracted by 8% since yesterday. This decline has been particularly poignant for Bitcoin, which set a new all-time high above $73,000 last week but has since fallen to around $63,142.39, briefly dipping below the $63,000 threshold.</p> 
<h3 id="strong-the-ripple-effect-on-traders-strong"><strong>The Ripple Effect on Traders</strong></h3> 
<p>The downturn has had a severe impact on traders, particularly those holding long positions, betting on the market’s upward movement. Data reveals that in the past day alone, over $500 million worth of long positions and $100 million worth of short positions have been liquidated. This massive wave of liquidations underscores the volatile nature of the crypto market and the high stakes involved in leveraged trading.</p> 
<h2 id="strong-ethereum-s-decline-and-the-dencun-upgrade-strong"><strong>Ethereum’s Decline and the Dencun Upgrade</strong></h2> 
<p><a href="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?quality=70&amp;ssl=1"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-136824" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?w=1600&amp;quality=70&amp;ssl=1 1600w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?resize=1536%2C864&amp;quality=70&amp;ssl=1 1536w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/DA267B2B-F8B1-459F-A809-93778AA27C49.webp?w=1392&amp;quality=70&amp;ssl=1 1392w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></a></p> 
<p>Ethereum’s performance has been notably worse than Bitcoin’s, with a 10% drop from yesterday and a 20% decline from last week. The anticipation around the Dencun upgrade, expected to go live on the mainnet, did little to stabilize its price. This stark drop has led to significant liquidations and a reevaluation of Ethereum’s short-term market position.</p> 
<h3 id="strong-meme-coins-and-market-sentiment-strong"><strong>Meme Coins and Market Sentiment</strong></h3> 
<p>The current market slump has also affected meme coins, known for their volatility. Coins such as Dogwifhat (WIF) and Bonk (BONK) on Solana, and Ethereum-based Floki Inu (FLOKI) have experienced drops ranging from 19% to 22%. Jupiter, a Solana DEX, despite its recent pledge to assist Slerf presale buyers, saw its JUP token decrease by 16%, further indicating the market’s downturn’s widespread impact.</p> 
<h3 id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>The recent downturn in the cryptocurrency market highlights the inherent volatility and risk associated with trading digital assets. While Bitcoin and Ethereum’s sharp declines have led to significant liquidations, the long-term outlook for the crypto market remains optimistic among many investors. As the market stabilizes, it will be crucial for traders to reassess their strategies and for the community to watch for any signs of a rebound or further corrections.</p> 
<div class="code-block-grte code-block-grte-2" style="margin: 8px 8px 8px 0; float: left;"> 
 <table style="width: 100%; border-collapse: collapse;"> 
  <tbody> 
   <tr> 
    <td style="width: 100%; text-align: left; background-color: #f2f2f2; padding: 10px;"> <a href="https://t.me/coinotagpro_bot/" target="_blank" rel="noopener"> <strong> <span style="color: #000000;">CLICK TO HERE TO JOIN</span> <span style="color: #e67e22;">OINOTAG PRO + COPY TRADE BASED ON NEWS TRADING</span> </strong> </a> </td> 
   </tr> 
  </tbody> 
 </table> 
</div>  
<p>The post <a rel="nofollow" href="https://en.coinotag.com/bitcoin-and-ethereum-plummet-as-market-sees-600m-in-liquidations/">Bitcoin and Ethereum Plummet as Market Sees $600M in Liquidations!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>

Bitcoin and Ethereum Plummet as Market Sees $600M in Liquidations!

Table of Contents

COINOTAG NEWS

Άλλα άρθρα που δημοσιεύτηκαν στις 19 Μαρ 2024

Bitcoin Decreases More Than 6% Within 24 hours

Bitgert Coin: The Latest Darling of Baby Doge, Floki Inu, and Myro Communities – Here’s Why

Emerging coin investors eye Fezoo, a promising new DEX

Zeebu at MWC Barcelona 2024 — A Recap of Our Presence at the Premier Telecom Event

Floki Inu Vs Dogwifhat; Who Will Reign In 2024 Bull Run? Scorpion Casino Dominates With $7.5 Mill...

NVIDIA GTC Unveils Powerful Tools Empowering Creators

Join our free newsletter for daily crypto updates!