The cryptocurrency markets proceed bleeding out, with Bitcoin dropping to as little as $101,000 earlier right now.
On the time of this writing, BTC recovered barely and trades above $102,000 however analysts are scraping for solutions and in search of the native backside.
As seen from the 1-hour chart, a minimum of on that time-frame, the cryptocurrency has been in a transparent downtrend for the previous 5 days, marking decrease highs and decrease lows constantly.
Information from Coinglass additionally reveals elevated ranges of liquidated positions throughout the leverage market. Nearly $700 million have been wiped off, which is a 35% improve in comparison with the day earlier than. Naturally, the overwhelming majority of that have been longs, accounting for round $600 million of the entire.
The heatmap under additionally paints a miserable image. As you possibly can see, aside from LEO, each single altcoin from the highest 50 (by market capitalization) is charting vital losses over the previous 24 hours.
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