$Grayscale Filecoin Trust (FIL)(FILG)$ $CME main(BTCmain)$ $Bitwise Bitcoin ETF(BITB)$ $Coinbase Global, Inc.(COIN)$ $ARK 21Shares Bitcoin ETF(ARKB)$
Halving a Ball: Bitcoin's Plunge from 71K to 66K Has Traders Split on the Crypto Coaster
Crypto Market Volatility: Bitcoin's Plunge to $66K Sends Shockwaves, Altcoins Follow Suit
Cryptocurrency markets faced significant turbulence on Friday as Bitcoin's price plummeted below $66,000, marking a stark reversal from its earlier attempt to breach the $71,000 threshold. This sudden downturn reverberated across the digital asset landscape, with altcoins like ADA, AVAX, BCH, FIL, and APT experiencing substantial losses ranging from 15% to 20%.
Amidst heightened risk-off sentiment in traditional markets and escalating geopolitical tensions, investors witnessed a fast downward spiral during the U.S. trading session. While Bitcoin managed to rebound slightly to $66,700, it still registered a decline of more than 5% over the past 24 hours.
The broader market also felt the impact, with the CoinDesk 20 Index (CD20) shedding nearly 10%. This market drawdown triggered the largest leverage washout in a month, totaling approximately $850 million in liquidated positions across all digital assets, according to CoinGlass data.
The dip coincided with a downturn in stock markets, fueled by mounting concerns over geopolitical risks, particularly in the Middle East. U.S. authorities issued warnings of potential conflict escalation, heightening market anxieties.
Looking ahead, investors may anticipate continued market volatility, with Ryze Labs pointing to the impending tax season as a potential catalyst for further weakness. As the crypto landscape navigates these turbulent waters, prudent risk management and strategic decision-making will be paramount for investors seeking to weather the storm.
I've had success with $Bitwise Bitcoin ETF(BITB)$ but I'm off the ride for now.
Are you on or off the Crypto Coaster ride?
@Daily_Discussion @MillionaireTiger @CaptainTiger @TigerPicks
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Question is are we going to periscope depth or much deeper??
Buy the dip…new bitcoin etf will get approve on Monday at Hongkong