The situation is atypical, because the dollar was not strengthened in international markets, product of the cuts in the Fed rates.
Cryptocurrencies start the week with a generalized collapse. Bitcointhe most important in the market, falls 2.7% in the last 24 hours, and operates in the US $ 112,650according to Binance. For its part, Ethereum, It contracts even more: 6.4%, to U $ S4.181.
“He Bitcoin price It has fallen back towards the average entry level of short -term investors. The level of ‘balance’ key to the market seems to be around U $ S110,000“XTB analysts explained.
And they stressed that “a fall below this threshold could cause liquidations among short -term investors who withdraw BTC funds, as well as an increase in coverage demand.”
In its entirety, the crypto market contracts 3.7%, with the highest casualties concentrated in Dogecoinwith a red above 10%, Solarium and Cardanowith falls greater than 7%; and XRP, with a decrease around 5%.
Why do crypts collapse?
According to data from Coinglassthey were settled More than 1.5 billion bullish bets This Monday, which is why crypts fall so hard. Specifically, More than 407,000 operators were liquidated in a 24 -hour periodthe highest level of losses of this type in recent months
“The American dollar index fell more than 0.2% today, but this has not translated into a Bitcoin price rebound. Unlike gold, which has risen more than 1%exceeding $ 3,700 per ounce, Bitcoin has not followed the same upward trend, “they added since XTB.
And they commented that “despite the lack of direct causes for this movement, the fault can be attributed to a greater interest in protecting themselves to possible falls, which has exceeded bullish bets, even before a type cut by the Federal Reserve and the wide profits on Wall Street“
Source: Ambito
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