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Saturday, January 22, 2022

$1 Billion liquidations in the crypto market!

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Bitcoin, the most popular cryptocurrency globally, decreased by 1/5 of its total value on Saturday. It was a massive hit to investors. Saturday stood out as a very incredible combination of different market factors. It was also profit-taking and macroeconomic concerns triggering thousands of dollars sell-off for different cryptocurrencies. For instance, you should know that the bitcoin decreased by 12% early in the morning on Saturday and stood at $47,495. There was a significant decrease of 22% in the total price value of bitcoin. It should look at $41,967.5, which is a low price for this incredible cryptocurrency of the globe. Also, the second popular cryptocurrency decreased by 10% and had a massive decline in its prices.

The market capitalisation of the cryptocurrency is decreased by 15% and reached up to $2.34 trillion. It is the lowest after May this year, and 11,392 points decreased. At the beginning of November, bitcoin stood at a value of $69,000, which is the highest price of all time. Also, the total market capitalisation of cryptocurrencies stood at $3 trillion, which is the highest of all time as well. Other cryptocurrencies and stock market assets also experienced a massive decline. One of the most important reasons for the decrease in United States bond yields on Friday was nothing else but the decrease in job growth. Towards the end of November, a new Covid virus was discovered in South Africa, which led to the downfall of different kinds of investment markets. The United States bond years also decreased because of the decreasing job growth in the United States.

According to a higher official of the United States, the massive cryptocurrency market players have transferred their coins to the trading venue. It has allowed them to take a higher vantage of the bullish phase that is going on in the market, and also, they have got the police leverage. It has caused the fall of the cryptocurrency market recently. Some of the cryptocurrency trading platforms are looking forward to performing questionnaires from the players. It is regarding the purpose of purchasing cryptocurrencies and how long they plan to hold them. There is something that has shaken the investors. Therefore, the investors are withdrawing their money from the market, and the cryptocurrency market is expected to collapse.

Also, for the sessions of the financial system of the United States, they are looking forward to using cryptocurrencies. They feel that if left unchecked, cryptocurrencies will affect the country’s financial system to a large extent. Therefore, they want to impose restrictions and control on different cryptocurrencies prevailing in the United States market. Also, it will bring a new law according to which the investors have to report to the financial system of the countries to use the article coins. Some cryptocurrency exchange players are proposing to the United States securities and exchange commission to accept the bitcoins Spot exchange. However, the commission has rejected the proposals as soon as they receive them. Also, there was the liquidation of bitcoins worth $1 billion, which has led to the market’s downfall as on

During October, the perpetual future hold of bitcoin cost around 0.06%. However, now that things have significantly changed. Earlier, it was said by a higher official of the United States securities commission exchange that anything that is going to benefit the investors is nothing else but bitcoin. However, better than holding it now, it is time to sell it off. Also, they stated that they wanted to boost their economy. The United States is going through a rough patch right now because of the high inflation rate in the country. So if they are capable of making it, it will benefit the nation to a large extent.

The funding rates of cryptocurrency trading platforms have negatively been to 0.18% today. On the contrary, the rate was standing at 0.01% throughout November. It has also made some things very difficult for cryptocurrency investors. We must pay higher fees to the trading platform, which is not beneficial. It is the most prominent reason they are withdrawing their investment from different cryptocurrencies like bitcoin. Also, as the prices are declining, people do not see prospects of increasing the prices of different digital coins.

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