Major coins traded mixed on Sunday evening as the recent banking crisis in the United States has many investors questioning credibility of the traditional banking system.
|cryptocurrency||Profit (+/-)||Price (entered at 9:30am EST)|
What happened: Apex Cryptocurrency Bitcoin BTC/USD It is currently trading below $28,000.
Ethereum ETH/USD It was up 0.66% to change hands below $1,800. dog coin doge/usd It was trading at $0.073 with a loss of 0.36% in the last 24-hours.
|cryptocurrency||Profit (+/-)||Price (entered at 9:30 pm EST)|
At the time of writing, the global crypto market capitalization was $1.16 trillion, up 0.64% over the previous day.
US stocks rose on Friday after a volatile trading session. Although Friday began with fears that a banking crisis was to spill To Deutsche Bank, the markets returned on a higher note to end the week. The S&P 500 rose 0.56%, while the Nasdaq Composite rose 0.3%.
See more, Best Crypto Day Trading Strategies
news highlightsLiquidity is a big problem in today’s crypto market. According to data provider Kaiko, large orders without market depth can lead to large price fluctuations, which can lead to slippage and even potential losses for traders.
conor ryderThe liquidity crisis is particularly evident in bitcoin, where liquidity levels have plummeted to a 10-month low following the closure of two major US banks, said a research analyst at CaiCoin. The same liquidity crisis is affecting the decentralized finance (DeFi) sector as well.
Analyst Note: crypto analyzer Michael van de Poppe said he predicted bitcoin would drop to $25,000, but the top crypto resisted and made a substantial correction to $26,200. He believes that BTC will eventually reach $40,000. “Business is not black and white, it is often grey. This push gives me confidence that we will continue.
crypto analyzer Justin Bennett Balaji Srinivasan’s bold bet of $1 million got a befitting reply. That said, if bitcoin hits $26,500 on the higher time frame, it would be the most obvious short entry point, which most crypto Twitterati missed as they were promised $1 million in bitcoin in just 90 days. .
Read further, Web3 Token Surges 33% on Microsoft Tie-Up, Surpasses Bitcoin, Ethereum in Weekly Gains