Cryptocurrency Market Loses $200 Billion in 24 Hours

The cryptocurrency market lost more than $200 billion in just 24 hours after the panic among retail traders caused a crash in Bitcoin and Ethereum. The world’s largest crypto asset, Bitcoin dropped below $49,000 on Tuesday as the total market cap of BTC reached $920 billion.

Ethereum, the world’s second-largest cryptocurrency reached its lowest level in 3 weeks after ETH dropped below $1,600. The total market cap of Ethereum stands at around $180 billion, which is down from $230 billion on 20 February.

The total value of the cryptocurrency market topped $1.74 trillion on Saturday after Bitcoin jumped above $58,000 and Ethereum reached $2,000. The market is in a bearish scenario since then because of heavy selling pressure from retail traders. As of writing, the total market cap of digital assets is hovering around $1.5 trillion.

According to the latest data published by crypto Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term firm, Bybt.com, the recent crash in Bitcoin and other cryptocurrency assets liquidated more than $4 billion worth of long positions in the last 24 hours. BTC remained at the top with the liquidation of $2 billion worth of long Bitcoin positions. Bybt.com mentioned that the largest single liquidation order happened on Huobi after $20.66 million worth of long Bitcoin positions got liquidated due to the crypto market crash.

Cryptocurrency Crash

A similar crash happened during the second week of January 2021 after the cryptocurrency market lost nearly $170 billion within a single day. The volatility in digital assets has increased in the last few months due to huge demand from retail and institutional investors, but the limited supply and Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term crisis remained the biggest risks. Nikolaos Panigirtzoglou, a strategist at JP Morgan, pointed out recently in his research note that Bitcoin’s liquidity has deteriorated in the last few months. Furthermore, the cryptocurrency whales are moving large amounts from leading digital exchanges to cold crypto wallets as the supply of digital assets at crypto exchanges plunged to the lowest level in more than 2 years.