On February 19, the cryptocurrency market was still chilly, with Bitcoin (BTC) trading at about $95K.
Investors became concerned when Ethereum (ETH), Solana (SOL), and XRP reported losses ranging from 1% to 6%. A number of macroeconomic reasons, including hawkish monetary policy and concerns about a trade war, are contributing to the pessimistic attitude.
Global markets have been shook by the growing trade war rumors that have surfaced since President Donald Trump’s drive for fresh import taxes. As uncertainty has increased, risk assets—including cryptocurrencies—have plummeted. Investor sentiment has also been weakened by the Federal Reserve’s position on keeping interest rates high for a long time.
There is now less desire for high-risk investments like digital assets as market estimates point to only one possible rate cut this year. Extend the article’s logo Go on reading
Over the last day, the cryptocurrency The cryptocurrency market experienced $348.88 million in liquidations in the last day.
The price of bitcoin drops to $93K due to liquidations.
The price of bitcoin fell to an intraday low of $93,000 before bouncing back a little to trade at $95,191 at the time of writing, representing an almost 1% decrease over the previous day.
Bitcoin liquidations of $100.46 million occurred at the same time as the drop.
Bitcoin’s market share increased by 0.47% to 60.30% in spite of the fall, suggesting that altcoins were disproportionately affected.
Solana, XRP, and Ethereum are losing money.
Ethereum (ETH): The price of ETH dropped 1% to $2,688, ranging from $2,606.90 to $2,730.28 within a 24-hour period. The Ethereum market saw $50.84 million in liquidations. Its market domination remained stable at 10.3%, though.
XRP: During the day, the asset backed by Ripple fell 4% to $2.55, reaching a low of $2.47. XRP saw $11.51 million in liquidations, however there is still hope as Bitwise’s XRP ETF proposal was approved by the US SEC.
SOL: SOL saw a more severe 6% decline, closing at $167 after hitting a daily low of $161.31. The asset’s liquidations totaled $36.77 million.
At $0.2516, Dogecoin (DOGE) had a 2% decline and $9.08 million in liquidations.
Shiba Inu (SHIB), meanwhile, fell 3% to $0.0000152. PEPE and TRUMP, two other meme tokens, fell by over 6% and ended up at $0.000009283 and $16.29, respectively.
Some cryptocurrencies were able to maintain their gains in spite of the general decline:
Maker (MKR): Up 12% to $1,186.27, with futures open interest (OI) up 33.72% to $93.07 million.
As its futures OI increased by more than 2% to $146.53 million, Berachain (BERA) saw an 8% gain to $6.44.
A 13% increase in futures OI to $851.41 million, driven by rumors of an impending Litecoin ETF, caused Litecoin (LTC) to rise 7% to $133.09.
