Bitcoin dia nandatsaka $3,500 tamin'ny $42,500 rehefa tonga ny tsy fahatokisana ny tsena

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Bitcoin (BTC) and the broader crypto market have undergone a roller coaster ride in the past 24 hours, leading to the liquidation of over $215 million within the same period.

The benchmark cryptocurrency recorded a sharp price surge above the $42,000 mark yesterday following the leak and eventual signing of the highly-anticipated digital asset executive order by US President Joe Biden.

The document release appears to have gone down well with the market, as it only highlighted worries already factored into the market and nothing else.

However, the benchmark cryptocurrency took a sharp turn late yesterday, as it plunged to the $39,000 mark. In dollar terms, the flagship cryptocurrency shed over $3,500, or -8% within the last 24 hours.

With BTC being the bellwether of the broader market, the altcoin market followed suit with severe plunges as the total crypto market shed over $93 billion. As mentioned earlier, it also triggered a liquidation of about $215 million, most of which were leveraged long positions.

Bitcoin positions alone recorded $80 million worth of liquidation, 37.2% of the total liquidation, while Ethereum positions accounted for $52 million of all liquidation, according to Coinglass.

Ambaratonga lehibe Bitcoin hojerena — 10 martsa

After its executive order-induced rally to the $42,590 top yesterday, BTC surprisingly switched sentiments again, as bears took control and drove the market down to the $39,000 support. So far, this support level has proven immovable as traders await a major US data release today.

BTCUSD 2022 03 10 13 19 12.png
BTCUSD - Tabilao 4 ora amin'ny Gemini. Loharano: TradingView

If the data fails to have the negative effect analysts forecast it would have on BTC, we could see a sharp rebound again to the $41,000 level over the coming days, followed by a steady recovery to the $45,000 level.

That said, market momentum and sentiment will get clearer in the coming hours following the US inflation data release.

Mandritra izany fotoana izany, ny haavon'ny fanoherana ahy dia ao amin'ny $ 40,000, $ 41,000, ary $ 42,000, ary ny haavon'ny fanohanana lehibe dia $ 39,000, $ 38,500, ary $ 38,000.

Total capitalization capital: $ 1.74 trillion

Kapitalin'ny tsena Bitcoin: $ 742 miliara

Bitcoin Dominance: 42.5%

Filaharan'ny tsena: # 1

 

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Azeez Mustapha

Azeez Mustapha dia matihanina amin'ny varotra, mpandalina vola, mpahay tetikady famantarana ary mpitantana vola manana traikefa efa mihoatra ny folo taona eo amin'ny sehatry ny vola. Amin'ny maha-bilaogera sy mpanoratra ara-bola azy dia manampy ny mpampiasa vola hahatakatra ireo foto-kevitra ara-bola sarotra izy, hanatsara ny fahaizany mampiasa vola ary hianatra hitantana ny volany.

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