News Formal

Biggest crypto and stock market crash in years liquidates $1.06 billion, is this the end of the bull run?

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 24 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

Bitcoin News

Cryptocurrencies

Crypto market capitalization dipped by 15% in the past 24 hours, according to CoinGecko data, down to $1.89 trillion at the time of writing on Monday.

Bitcoin slipped below the $50,000 support early on Monday as stock markets around the world tumbled and bonds rallied amidst recession fears. The crypto market noted $1.06 billion in liquidations in the past 24 hours, per Coinglass data. Bitcoin crashed alongside US stocks even as the 30-day Pearson correlation with the Nasdaq composite and S&P 500 is negative. Bitcoin could extend losses by another 12% and sweep liquidity below $47,000 before beginning a recovery.

Bitcoin could extend its losses further Bitcoin’s price dipped under $50,000, a key psychological support level for the largest cryptocurrency by market capitalization. BTC could extend its losses by nearly 10% and sweep liquidity in the Fair Value Gap between $45,614 and $46,800. Bitcoin could sweep liquidity at $46,207 before beginning a recovery rally. The Relative Strength Index indicator reads 24.76, as BTC is currently in the “oversold” zone.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Top 5 crypto market trends from Coingecko's Q2 reportCoingecko's Q2 report on Tuesday revealed key market performances in the crypto industry and how they may affect Q3 and Q4 performances.
Source: FXStreetNews - 🏆 14. / 72 Read more »