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Crypto prices have slumped over the past 24 hours, with Bitcoin (BTC) down 3.15% and Ethereum (ETH) slipping 3.89%. One analyst speculates that this could be due to the market being overexposed to leveraged long positions. Accordingly, it has created a cascading effect, causing the liquidation of several assets. However, several projects,
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“We still believe that the chances of further declines are higher for now,” one analyst said. Source
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As XRP (XRP) struggles to maintain upward momentum following Judge Analisa Torres’ summary judgement in the United States Securities Exchange Commission v. Ripple Labs case that XRP isn’t a security, investors appear to be selling off their holdings. Adding to this, a significant whale has moved 29 million XRP, valued at
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"For BTC, I think market makers' hedging contributed to the price drop, but for ETH, it was a key factor that prevented the price from falling sharply," Ardern said. "ETH had solid positive gamma near the strike price of around $1,600, and its total gamma is still positive, which means
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"For BTC, option sellers were short too many put options, for more investors were previously bullish, selling put options to finance buying call options to reduce costs. So the sudden and unexpected price drop lead to hedging behavior, catalyzing deeper decline," Griffin Ardern, volatility trader from crypto asset management firm
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Meme coins have emerged as a significant trend in crypto, largely inspired by the influence of internet culture and social media. These coins have gained traction due to their entertaining and interactive features. However, Dogecoin (DOGE) and
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Polygon (MATIC) has been experiencing a mix of price action, with a 24-hour rally of 3.5% that hints at potential positive movement. However, the coin has suffered a 4.4% slump over the past seven days, indicating underlying bearish sentiments in the market. Despite the short-term surge, the weekly time frame presents
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Unlike stock markets, cryptocurrencies trade 24/7, which means there is no daily close price as such. Chart analysts, however, consider the last traded price at 23:59 UTC as the daily close to confirm the reliability of technical breakouts/breakdowns. Source
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