\n
<\/p>\n
The cryptocurrency market, which marked a new record earlier this week when the total capitalization hit $4.4 trillion, is in a free-fall state after the US President Donald Trump issued a warning against China.<\/p>\n
Ethereum is among the poorest performers on a daily scale, losing nearly 6% of value. ETH has broken below $4,100, and it’s on its way to $4,000 for the first time in a few weeks. Its weekly losses are up to 10.6%, according to CoinGecko data.<\/p>\n
Similar losses are evident from other larger-cap alts such as SOL and DOGE. Both are down by over 4.5% daily and struggle below $210 and $0.24, respectively.<\/p>\n
Ripple’s XRP has fared slightly better on a 24-hour scale, losing a more modest 3%. However, it’s down by almost 11% in the past week and is currently testing a crucial support at $2.70.<\/p>\n
Bitcoin led the charge south, dropping<\/a> from over $121,000 to $119,000 at first after Trump’s statement against Beijing. However, its performance has only worsened since then, and it’s down to $117,000 as of press time. CW believes<\/a> the first major buy wall is situated at $116,700, which could provide some support for the asset.<\/p>\n Altcoin Sherpa noted<\/a> that if BTC closes below $117,600 weekly, it would be destined for another fall to $115,000.<\/p>\n Satoshi Flipper was more positive, indicating that today’s sell-off, which also extended in the broader financial markets, including the S&P 500, will simply increase the odds for two more interest rate cuts by the US Fed of 25 bps. As such, the analyst said<\/a> the current correction is a “monster discount.”<\/p>\n The liquidation data from CoinGlass is rather painful. The total value of wrecked positions has shot up to $900 million on a daily scale, as over 250,000 traders have been wrecked.<\/p>\n The post Altcoin Bloodbath: ETH, XRP, SOL, DOGE Crumble as Liquidations Near $900M<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The cryptocurrency market, which marked a new record earlier this week when the total capitalization hit $4.4 trillion,…\n","protected":false},"author":2,"featured_media":36662,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-36661","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/36661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36661"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/36661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/36662"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}