Well, gather ’round, folks, for the crypto market has taken a nosedive that would make even the most seasoned acrobat blush! It all kicked off during the wee hours of Monday in Asia, when our dear friends Bitcoin (BTC), Ethereum (ETH), and XRP decided to take a plunge of 7-12%. The global crypto market cap, once a proud $3.61 trillion, now lies crumpled at $3.35 trillion, as if it had just lost a poker game to a particularly ruthless raccoon. That’s a staggering $260 billion vanished quicker than a magician’s rabbit! 🎩💸
And if that wasn’t enough to make investors clutch their pearls, the Crypto Fear & Greed Index has plummeted from a state of Greed to a more neutral 55, signaling that investors are feeling a tad skittish. Who could blame them? It’s like watching a cat on a hot tin roof! 🐱🔥
Crypto Market Crash: Reasons Why Bitcoin, ETH, XRP & Altcoins Are Falling Faster Than a Rock
As of today, Bitcoin is trading at a mere $98K, down 7% in just a few hours. Meanwhile, ETH has taken a tumble to $3000, and XRP is down 12% to $2.78. Experts are predicting that this rollercoaster ride has no brakes in sight! 🎢
$1 Billion in Bitcoin, ETH, XRP Liquidated
According to Coinglass, over $800 million in crypto has been liquidated, with 290K traders getting the boot in the last 24 hours. The largest single liquidation order of BTCUSDT was valued at a whopping $98.46 million. Ouch! That’s gotta sting! 😬
Nearly $900 million in long positions and $100 million in shorts have been wiped out, with BTC, ETH, SOL, DOGE, XRP, UNI, and ADA leading the charge. It’s a liquidation party, and everyone’s invited! 🎉
4. $9.5 Billion in Bitcoin and Ethereum Options Expiry
As per Deribit, a staggering 78K BTC options worth $7.7 billion are set to expire on Friday, with a put-call ratio of 0.70. The max pain point is $98,000, which is about as comforting as a porcupine in a balloon factory. 🎈
Moreover, 565K ETH options worth nearly $1.8 billion are also on the chopping block. Traders, keep your eyes peeled for drastic changes, or you might just find yourself in a pickle! 🥒
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2025-01-27 11:44