Crypto Markets Weaken, Liquidations Reach Billions of Dollars
The crypto market closed Tuesday's trading on a cautious note, following a major wave of liquidations that hit long positions across various digital assets. A total of over US$1.5 billion in positions were liquidated in the past 24 hours, mostly in Ethereum and Bitcoin. The Fear & Greed Index also fell to around 40, from around 56 a month ago, indicating growing investor concern about market risks.
Bitcoin prices consolidated in the US$112,500-US$113,000 range, rebounding slightly from selling pressure, while Ethereum hovered around US$4,190-US$4,200. Certain altcoins such as BNB and XRP performed relatively better than SOL, which recorded a deeper decline.
From a macro perspective, the strengthening US dollar and the continued hawkish monetary stance of central banks (particularly the Fed) added pressure on risk assets like crypto. Expectations of potential interest rate cuts have also been factored into the market, but they haven't been strong enough to shift short-term negative sentiment. Altcoins, with their clearer utility and portfolio diversification, appear to be the preferred choice for investors seeking to reduce risk.
Source: Newsmaker.id
