Crypto Crash: $320 Million Wiped Out As Bitcoin And Ethereum Nosedive

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Crypto Crash: $320 Million Wiped Out As Bitcoin And Ethereum Nosedive - NewsBTC

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Related Reading: XRP Poised For Over 5,000% Explosive Charge’, Analyst Says This sudden fall has left many analysts and investors wondering about the future course of some of the top digital assets, hence underlining how volatile the market is wrought by macroeconomic events and changing mood among investors.📊 Crypto’s latest retrace is coming after longs were pouring in on exchanges like @dYdX at the highest rate since Bitcoin’s All-Time High craze in March.

When funding rates get extreme in either… pic.twitter.com/siXhAI46VQ — Santiment (@santimentfeed) August 27, 2024 Meanwhile, based on figures provided by Santiment, long positions have been transpiring at the fastest rate since Bitcoin’s peak in March, which is indicative of a spike in market optimism-or perhaps greed-around August 25th.

Whereas an upsurge in trading volume could indicate panic selling by investors attempting to cut their losses, it might also be interpreted as quite the opposite – that investors feel bullish and are buying into what they perceive to be undervalued prices in anticipation of a market recovery.