Very particular situation on the cryptocurrency market, which reports on all major assets major losses and in some cases higher than 10%, with the best of the last week paying a higher price.
a mini collapse which will be welcome for those who have recently started investing in the world of cryptocurrencies – and which also offers, paradoxically, some positive signal, for a market that, at least for now, seems to have held close to the most important supports.
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Collapse for Bitcoin, Ethereum and the rest of the sector. Let’s try to understand what happened
A very particular situation that, when it was the middle of the night in Italy, involved the whole sector starting from Bitcoin, which yesterday had already shown signs of weakness in the short and very short term, with the bears in control of the market since the early hours of the morning.
As it always happens when it moves down or up Bitcoin for large quantities, the rest of the sector could only do that to follow. Ethereum at the time of writing it comes traded around $ 4,300, as well as have lost substantial amounts of value too BNB e Cardano. No crypto spared, except those that were already having a race on their own, yesterday, like the midcap $ONE e $STX. A situation therefore of general collapse, with only 3 among the first 100 cryptocurrencies by capitalization which are positive.
Bears in control, but without triggering events
The bears they were clearly in control since yesterday, since they started attacking the price of Bitcoin, to bring it under the 63.000$ first and then towards further supports which, although necessarily interesting, in reality could have wavered at any moment.
The market entry of many market with also important levers completed the night disaster. Incredible settlements over the last few hours, all up long positions and a kind of short squeeze on the contrary, without there being precisely an external trigger.
Eyes on the market today – some elements to help you
Today’s market will perhaps wait for the American opening before taking a concrete decision. Despite Bitcoin tried to go back over the 61.000$, lost this relatively important psychological threshold soon thereafter, confirming our theory that sees the bears in full control of the market, at least for now.
However, we also know that the macro-trend it absolutely is bullish for the whole sector and that we are still very, very far from invalidating it. At which thresholds to look? For Bitcoin a 58.000$ on the one hand and to 62.500$ on the other, thresholds that could signal the resumption of a clear trend in one direction or another, even if, at least for now i 60.000$ they would seem to be more than consistent like support.
Is there to worry about a new collapse?
In our opinion we are still in the field full of lateral movements which are more than justified by the stage that $ BTC is going through. Even when it was broken down above the 65.000$ widely we had invited everyone to calm, certain that the phases of charging they would continue to follow each other.
Nothing to worry about, a flush of positions of those who are excessively exposed through leverage and who love to be reminded, at a very high price, that prudence must always reign supreme when taking a position even on the most solid of cryptocurrencies. For many it will be a good opportunity to do shopping, taking into account the very attractive prices not only up Bitcoin, but also on Ethereum, but also Cardano, Binance Coin, Solana and all the main projects on the market.
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