Market Analysis: More Traders Boycott Futures During The Last 24 Hours.

The growing uncertainty of the price movement of various cryptocurrency is giving rise to fear. Traders who trade futures are one of the first hit when such uncertainty grows.

The last 24 hours have been no different from the previous except for the decrease in funds liquidated. As of the time of writing, the total capital REKT is $374 million; a decrease of 25% compared to the previous day of $507 million when 86% of them were long.

Nonetheless, this time, over 71% of the liquidated funds were from long positions. The bulls are still losing to their opponents. The biggest single liquidated order was OKEX and while trading BTC. The amount lost was $6.million.

Traders lost $107 million on Bybit as it is the exchange with the largest amount of liquidation. Current data shows that more traders are not trading as the total trading volume of the last 24 hours dipped by 8.3%.

With the buyers being the one taking most of the damage, they may be a continuous drop in trading volume as they will keep backing off. Additionally, the last 48 hours saw many traders: as many as 130,000. As of now, there are barely 115,000 available.

Regardless of the current state of the market, Solana attained a new all-time high.

SOL/USD

It seems the mojo of the launch of Degenerate Ape Academy—a non-fungible token (NFT) project built on the Solana blockchain on Sunday has not worn off as the SOL/USD.

Following the initial launch, the pair went on a bullish streak as it gained more than 35% at the time; ensuring the coin hits a new all-time high of $64.4. Now, solana ATH is $80.1 and is overbought and may face massive price corrections in the coming days.

It is also worth noting that Bitcoin gave off a buy signal on the weekly chart as the Moving Average Convergence Divergence (MACD) fast line intercepted the green from below it.

 

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  • bitcoinBitcoin (BTC) $ 16,450.18 1.4%
  • ethereumEthereum (ETH) $ 1,217.56 4.07%
  • bnbBNB (BNB) $ 296.04 0.81%
  • xrpXRP (XRP) $ 0.399941 2.15%
  • solanaSolana (SOL) $ 13.38 0.19%
  • terra-luna-2Terra (LUNA) $ 1.60 1.69%