Bitcoin fell below $92,000, Ethereum below $3,000. Here's what happens in the "dark night"

Today, the cryptocurrency market experienced another sharp selloff, leading to significant price drops in major digital assets. Bitcoin (BTC) fell below $92,000, while Ethereum (ETH) lost the psychological $3,000 threshold. These changes were driven by a variety of factors, including mass liquidations of highly leveraged positions.

Current Prices and Changes

Over the past 24 hours, Bitcoin's price has fallen 2.46%, reaching $91,789. This represents a 13.29% loss over the past week, negatively impacting BTC's market capitalization, which has fallen to $1.83 trillion.

Ethereum's price also felt the pressure, falling 3.54% to $2,984. This is a 16.35% decline from the previous week, highlighting the overall downward trend in the market.

Other Cryptocurrencies Fall

Bitcoin and Ethereum weren't the only ones hit by the selloff. Solana attracted attention with a 21.98% weekly decline, while Cardano fell 21.39%. These figures indicate that the overall market remains under pressure.

Mass Liquidations

One of the key factors contributing to the deepening market decline was the mass liquidations of highly leveraged positions. According to Coinglass, liquidations over the past 24 hours were:

- Liquidations within 1 hour: $122.26 million
- Liquidations within 4 hours: $274.98 million
- Liquidations within 12 hours: $579.83 million
- Liquidations within 24 hours: $795.36 million

The most liquid assets were:

- BTC: $396.65 million
- ETH: $165.65 million
- ZEC: $44.52 million
- XRP: $43.50 million
- LEFT: $37 million

Macroeconomic situation and market impact

The macroeconomic situation in the US, uncertainty surrounding the Federal Reserve's interest rate decision, and The intense selling pressure seen in the cryptocurrency market in recent days is negatively impacting investor sentiment. Analysts note that such price movements can rapidly intensify during periods of high leverage, making the market particularly vulnerable to sharp fluctuations.

In Conclusion

The current situation in the cryptocurrency market highlights the importance of caution for investors. Sharp price fluctuations and mass liquidations create a volatile environment in which it is difficult to predict future movements. Investors should closely monitor macroeconomic factors and be prepared for possible changes in market dynamics.