Crypto Investment Services Provider Matrixport Expects US SEC to Reject All Applications to List Venue bitcoin ETF this month.
In today's trading, the global cryptocurrency market capitalization decreased by 4.73% to around $1.65 trillion in the last 24 hours. At 10:34 am, BTC was trading 4.37% lower at $43,192, while Ethereum fell 5.55% to $2,240.
Altcoins, such as Polygon, Dogecoin, Avalanche, and Cardano, fell between 8% and 12%. XRP, Solana, Shiba Inu, Litecoin and Toncoin also plummeted.
"Crypto market saw a sharp sell-off yesterday as speculation over the approval (or rejection) of spot ETFs continues to increase volatility. "Bitcoin is likely to consolidate at current levels ($43,000) before a strong move to either side early next week," said Vikram Subburaj, CEO of Giottus. "This slowdown in major crypto assets triggered a wave of liquidations in the derivatives market. Regardless of the specific trigger for the market correction, bullish traders were caught off guard, resulting in a rapid series of long sell-offs. "In the last 24 hours, the cryptocurrency market witnessed liquidations exceeding $577.7 million in long positions, and in the previous 12 hours $554.5 million was wiped out," the ZebPay trading desk said. .
The total volume in DeFi is currently $11.28 billion, 9.53% of the total 24-hour volume of the crypto market. The volume of all stablecoins is now $104.77 billion, accounting for 88.48% of the total 24-hour cryptocurrency market volume. Bitcoin dominance is currently 51.21%, according to CoinMarketCap. BTC volume in the last 24 hours increased by 47.8% to $47.05 billion.
Sathvik Vishwanath, co-founder and CEO of Unocoin, said: "Technical analysis suggests that Bitcoin's near-term prospects are cautiously bullish above $42,000, but external factors can quickly change the direction of the market, urging investors. investors to look at key levels and broader indicators.
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