Bitcoin Retests Support, Ethereum Continues to Climb, Liquidations Across Exchanges Exceed $140 MillionYesterday, Bitcoin briefly surpassed $64,000 before falling back to around $63,000 to test support levels. Meanwhile, Ethereum exhibited strong performance, breaking through $2,500 yesterday morning and continuing its climb this morning, currently trading at $2,561
Bitcoin Retests Support, Ethereum Continues to Climb, Liquidations Across Exchanges Exceed $140 Million
Yesterday, Bitcoin briefly surpassed $64,000 before falling back to around $63,000 to test support levels. Meanwhile, Ethereum exhibited strong performance, breaking through $2,500 yesterday morning and continuing its climb this morning, currently trading at $2,561.
Bitcoin Consolidates Around $63,000
Bitcoin traded within a narrow range around $63,000 yesterday. Around 11 am, shortly after the Bank of Japan announced it would maintain current interest rate levels, the price briefly jumped above $64,000. However, selling pressure quickly emerged, pushing the price back down to $63,000 and retesting the $62,964 support level. As of press time, Bitcoin is trading at $63,040, up 0.33% in the last 24 hours.
Ethereum Shows Strong Momentum
Ethereum's performance has been stronger than Bitcoin's. Following the Bank of Japan's announcement on interest rates, Ethereum surged above $2,500. It subsequently initiated a new wave of gains, reaching a high of $2,587.4, hinting at a potential challenge to the $2,600 level. As of press time, Ethereum is trading at $2,561, up 4.64% in the last 24 hours.
Liquidations Across Exchanges Exceed $140 Million
Data from Coinglass shows that in the past 24 hours, liquidations across cryptocurrency exchanges reached $140 million. Long and short positions were liquidated at close to equal rates, with $74.87 million in short liquidations, resulting in over 57,000 accounts being liquidated. While the liquidation figure is not particularly significant, the liquidation heat map reveals that while mainstream tokens like BTC, ETH and SOL are primarily characterized by short liquidations, most other niche tokens are predominantly experiencing long liquidations.
Mixed Performance on US Stock Markets' "Quadruple Witching Day"
Last night was the "Quadruple Witching Day" in the US stock market, which resulted in weak performances across the four major indices. Only the Dow Jones Industrial Average saw a modest gain. This could be attributed to investors' concerns about further market turbulence stemming from the maturity of various financial products on "Quadruple Witching Day," pushing them to exit and adopt a wait-and-see approach. The specific data is as follows:
- Dow Jones Industrial Average rose 38.17 points, or 0.09%, closing at 42,063.36 points.
- Nasdaq Composite Index fell 65.66 points, or 0.36%, closing at 17,948.32 points.
- S&P 500 Index dropped 11.09 points, or 0.19%, closing at 5,702.55 points.
- Philadelphia Semiconductor Index decreased 66.58 points, or 1.31%, closing at 5,000.06 points.
Friendly Reminder
The cryptocurrency market is highly speculative and subject to volatile sentiment. To ensure prudent investing, establishing a risk management system independent of price is crucial. Prioritizing your own investment philosophy over blind speculation is a key characteristic of a successful investor.
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Conclusion
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