Cryptocurrency

Crypto Market Liquidations Exceed $1 Billion as Bitcoin Dips Below $100K

Monday. January 20 at 5:00 AM

1 min. read

Over the past 24 hours, crypto market liquidations have surpassed $1 billion as Bitcoin briefly dropped below $100,000 after nearing its all-time high. CoinGlass data reveals that $1.18 billion has been liquidated from approximately 406,000 traders, split between about $921 million in long liquidations and $260 million in short liquidations. Notably, Ether led the market with over $207.5 million in long liquidations, followed closely by Bitcoin with over $202 million. Bitcoin experienced a more than 6% decline from $106,300 to around $99,700 on Jan. 19, echoing a previous market downturn on Jan. 7. Altcoins like ETH, XRP, DOGE, ADA, AVAX, SUI, and XLM also saw significant declines. Additionally, Donald Trump's memecoin plummeted by 40% after reaching a $70 billion valuation, following the launch of Melania Trump's token. For more insights on BTC's price target and NFT trends, subscribe to the Markets Outlook newsletter.

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Cardano Price Analysis: Potential Recovery Ahead

Wednesday. February 5 at 12:00 AM

Cardano (ADA) has experienced a notable price decline recently, dropping by 22% in the past four days. Despite appearing as a setback, this downturn could actually present a positive outlook for the cryptocurrency's future. The current MVRV Ratio sits at -21.81%, falling within the opportunity zone of -11% to -25%, historically indicating a strong reversal point and potential price rebounds. This zone also serves as an accumulation opportunity for investors due to perceived undervaluation. The Chaikin Money Flow (CMF) indicator has shown an increase, reflecting positive investor sentiment and potential for a price rally. With technical indicators aligning for a possible recovery, Cardano's price may see a significant upside in the short to medium term. However, maintaining support above $0.70 is crucial for sustaining the bullish momentum. Investors are advised to conduct their own research and seek professional advice before making financial decisions.

Cryptocurrency

US President Trump Signs Executive Order for Sovereign Wealth Fund Creation

Tuesday. February 4 at 8:00 PM

President Donald Trump signed an executive order on February 3, calling for the establishment of a sovereign wealth fund. This order builds on a previous directive for a national digital asset stockpile, indicating a growing emphasis on strategic financial reserves. The order tasks the Treasury and Commerce Secretaries with developing a detailed plan for the fund within 90 days. The aim is to utilize returns from the fund to enhance fiscal sustainability, reduce tax burdens, ensure long-term economic security, and bolster US economic leadership globally. While the order did not mention cryptocurrencies explicitly, it generated excitement among Bitcoin supporters, particularly due to Senator Cynthia Lummis' positive response. The move also coincides with various US states introducing bills to promote crypto adoption and regulatory clarity, reflecting a broader trend towards embracing digital assets in the country.

Cryptocurrency

XRP Rebounds Amidst Tariff Pause

Tuesday. February 4 at 7:00 PM

XRP has surged over 7% in the last 24 hours, climbing from $1.79 to $2.78 on Feb. 4. This rise follows a broader crypto market trend after US President Trump halted proposed tariffs on Canada and Mexico. The pause in tariffs signals economic stability, benefiting risk-on assets like cryptocurrencies. Bitcoin also saw a recovery, surpassing $100,000 before settling above $98,000. Despite XRP's 50% jump from its recent low, there are concerns of a potential bull trap. The RSI indicates bearish momentum, with a possible retracement towards $2.26 and $2.00. XRP investors have gained nearly $2 billion in profits, one of the highest in its history. This article does not offer investment advice, emphasizing the importance of conducting personal research before making financial decisions.

Cryptocurrency

Cryptocurrency Exchange Warns of Repayment Delays

Tuesday. February 4 at 4:00 PM

Indian cryptocurrency exchange WazirX has cautioned that repayments from the $235 million hack against it may face delays until 2030 if creditors do not approve its proposed restructuring plan. The company presented two scenarios for creditors affected by the hack, stating that if the plan is accepted, the process could start in April 2025, with the relaunch of the platform and initial repayments. However, rejection could lead to a five-year wait for creditors to retrieve their assets. WazirX emphasized the importance of approving the restructuring scheme to avoid unclear and prolonged timelines. The exchange highlighted the potential impact of liquidation on asset repayment, warning of lower value due to liquidation costs. The High Court of Singapore has endorsed the restructuring plan, aiming for quick distributions to benefit users. WazirX plans to introduce recovery tokens for users to recover up to 80% of their balances.

Cryptocurrency