- Contents
- Bitcoin nearly bounced back to $80,000 after falling to $75,000. Making other major tokens surge (DOGE Coin and others)
- Total Crypto Market Equalizes to levels seen as of November (after Trump’s election victory).
- $1.2 billion liquidations were seen on Monday in crypto futures, leading to a bounce in the market
Bitcoin has successfully climbed back up, gradually rising to $80,000 after crashing to $75,000 in the recent crypto crash on Monday. Following the thunder and lightning seen in the world of cryptocurrency, the grand master of cryptocurrencies emerged, sparking a surge in other significant tokens in the crypto market. This includes DOGE Coin and others.
Doge Coin(DOGE) Surge 10%
Dogecoin(DOGE), BNB, Cardano(ADA), and XRP also had a great rise of 10%, this has successfully alleviated some losses seen 24 hours ago.
Total Crypto Market Equalizes to Levels Seen as of November
In early November 2024, after Trump won the US presidential election, the crypto market experienced something dynamic; there was a great pullback. The victory triggered a rally that drove the total value to a level that had been seen as offering resistance to further gains. The overall market cap has pulled back currently.
$1.2 billion liquidations
Furthermore, late Monday, the equity market staged a bounce after the talks of the impending tariff. The S&P 500 rose over 7%. Unfortunately, gives up almost all gains after the White House tagged the speculation “fake news.” Total crypto-tracked futures were more than $1.2 billion in liquidations. This was due to the 20% slumping in major cryptos at one point. According to CoinDesk, this allowed traders to cut short positions and reverse overextended selling.
Nevertheless, some traders are still anticipating the price of Bitcoin, whether to buy it or not. This is because of the fear of uncertainties caused by the tariff war.
“We are optimistic that investors seeking a safe haven may look to buy the dip in Bitcoin if it can show some relative strength against the traditional assets during an eventual recovery period in the short term.” A HashKey Capital partner said in a telegram message to CoinDesk.
In conclusion
The Crypto Market sentiment is in the extreme fear zone of 23, significantly higher than that of the equities. This signifies an organized sell-off here, indicating it is more dangerous as well.
