Bitcoin is experiencing a period of volatility, remaining below the $100,000 mark for three consecutive days. Altcoins such as Ethereum, Solana, and XRP have also seen declines, reflecting broader market unease.
What to Know:
- Bitcoin is experiencing a period of volatility, remaining below the $100,000 mark for three consecutive days.
- Altcoins such as Ethereum, Solana, and XRP have also seen declines, reflecting broader market unease.
- Despite the current downturn, some analysts suggest that underlying network support could prevent a prolonged bear market.
The crypto market is currently navigating a risk-off phase, with Bitcoin struggling to stay above the $100,000 threshold. Investor sentiment has shifted towards “Extreme Fear,” according to the CryptoQuant Fear & Greed Index, marking the lowest point since July 2022. This downturn has impacted various altcoins, reflecting a broader market correction.
The recent market volatility has led to significant liquidations across crypto derivatives platforms. Over the past 24 hours, more than $616 million in liquidations occurred, with long positions taking the brunt of the impact. This level of liquidation underscores the high-risk environment traders are currently facing.
Bitcoin Realized Cap hits all-time high of $1.1T
Early whales are selling, but I think this selling pressure can be relieved if their selling slows down and global macro sentiment improves.
— Ki Young Ju (@ki_young_ju)
Despite the current price slump, some analysts remain cautiously optimistic about Bitcoin’s long-term prospects. CryptoQuant CEO Ki Young Ju suggests that strong inflows into the network indicate that a full-blown bear market is not yet confirmed. He noted that Bitcoin’s realized capitalization recently reached an all-time high of $1.1 trillion, signaling continued capital movement into the asset.
While early, large Bitcoin holders have been selling, a potential easing of this selling pressure, combined with improved global macroeconomic conditions, could stabilize the market. Investors are closely watching for any signs of regulatory changes or ETF approvals that could act as positive catalysts. Monitoring key on-chain metrics and macroeconomic indicators will be crucial for navigating the coming weeks.
Related: XRP Price Prediction: FOMO Incoming?
Source: Original article
Quick Summary
Bitcoin is experiencing a period of volatility, remaining below the $100,000 mark for three consecutive days. Altcoins such as Ethereum, Solana, and XRP have also seen declines, reflecting broader market unease. Despite the current downturn, some analysts suggest that underlying network support could prevent a prolonged bear market.
Source
Information sourced from official Ripple publications, institutional research, regulatory documentation and reputable crypto news outlets.
Author
Ripple Van Winkle is a cryptocurrency analyst and founder of XRP Right Now. He has been active in the crypto space for over 8 years and has generated more than 25 million views across YouTube covering XRP daily.
Editorial Note
Opinions are the author's alone and for informational purposes only. This publication does not provide investment advice.
