This morning, the encryption market woke up to the red panic, as it was pulled down by the distinctive bear price. Bitcoin lost the main support of $ 90,000, while ETHEREUM fell from the $ 2500 psychological threshold.
What are the reasons that lead to this great decline in the encryption sector? Are we at the dawn of the beginning of the new bear market?
Let’s take a deep breath and analyze the entire situation quietly.
Bloods for the encryption market: BTC -7.4 %, ETH -10.8 %
The encryption market does not want to recover: After a month of deep corrections, here comes another significant decline. In the past 24 hours, Bitcoin is losing 7.4 %, as it decreased from 95,000 dollars to $ 88,000. Ethereum, on the other hand, records a percentage of two numbers, the attack on $ 2700 and the collapse is less than $ 2,400. In general, the entire official assets sector has lost $ 146 billion, with a shrinkage of about 5 %.
Even on the Altcoin front, we do not see positive signals: at the present time, we can only draw a veil on all these coins that have almost eliminated the profits of the last wave. Sol decreases by 14.2 % It approaches $ 130, XRP decreases by 13.3 % To $ 2.1, and Doug loses 12.1 % Return to $ 0.19. Only the PI and some Stablecoin network managed to maintain a neutral price structure, while isolated cases such as BNB record less density declines compared to those in Bear Bitco Bitcoin.
The situation in the open interest and the average financing: Where do we go?
Very interesting to highlight how the open interest of all encryption assets spreads almost. While the decline that was observed yesterday seemed driven by a speculative spirit, justified by the increase in futures positions, in this case Many players seem to get out of the market. On BTC, for example, according to Coinalyze data, we notice a significant decrease of about two billion dollars in open interest, as it approached the lowest new monthly levels of $ 28.2 billion.
At the same time, The financing rate remains in a positive area in all encryption assetsThis means that tall continues to push short pants to keep their positions open. This feeds a scenario of attention from derivative exchange investors, who still find the search for an attractive bull style. This trend looks more clear on metal currencies such as noise, XRP and Doge.
The situation on the total front remains optimistic, especially for Bitcoin, which, unlike altcoins, has not yet fell strongly. There are still all the conditions in forceEven if the ball is controlled in the short term. At this stage, the return exceeding $ 100,000 would save the orange currency the confidence needed for a new crowd. On the contrary, a decrease less than $ 75,000 (EMA 50 per week) will increase the chances of the extended bear market.
What are the factors that lead to the bear market?
In the midst of this storm, the bear, investors are looking for a scapegoat that is responsible for the failure of the encryption market. Although we cannot say with certainty that there is a special event that led to an emptying, we can still go into the influence of some scenarios that have struck the industry in recent days.
First of all, it was there Hack of $ 1.4 billion In bybit that contributed to creating an atmosphere of uncertainty, which led to the direction of the sale. Although there were no direct consequences on BYBIT investors, many users were afraid of the accident, and the episode compared to Saga FTX. In addition, some accuracy leaked on X, accidentally explaining how infiltrators would sell all stolen ether in the market. This trick facilitated the decline in the market, which helped fetch FUD.
Another worker is represented in partially explaining the decline today by Continuous sales for the giant market maker winter. The latter, which provides liquidity for trading on a wide range of stock exchanges, chose in the last hours to liquidate the large parking of BTC, ETH and Sol on the market, creating strong sale pressure.
As a result, there were waterfalls for the long sites, which accelerated the dynamic dynamics. In the past 24 hours, according to Coinglass data, we find The rank of 1.47 billion dollars is 1.36 billion of length. More than 600 million futures in Bitcoin evaporated while about 300 million ETHEREM were eliminated.
The only possible suspension in such circumstances is: Rekt!
