The crypto market has seen a significant downturn, with a total market capitalization dropping by nearly $300 billion in the last 24 hours. This article explores the key factors behind this sharp decline, including macroeconomic events and major liquidations.
Points
- Over $800 million worth of liquidations in the last 24 hours.
- Major sell-offs by Paradigm and Grayscale.
- Total crypto market cap fell by $300 billion.
- Bitcoin and Ethereum hit multi-month lows.
- Macro factors like weak US Non-farm payrolls report contributed to the decline.
The crypto market experienced a significant downturn, with the total market capitalization dropping by nearly $300 billion in just 24 hours. This dramatic decline follows a series of macroeconomic events and major liquidations.
Over the past day, the market has recorded over $800 million worth of liquidations, primarily from long contracts. This wave of liquidations was driven by several factors, including major sell-offs by institutional players like Paradigm and Grayscale, who collectively sold $1.23 billion worth of Ethereum （ETHUSD）.
Bitcoin （BTCUSD） was not spared, falling by more than $6,000 over the past four days and hitting a five-month low. At the time of writing, Bitcoin trades at $52,780, down from its recent highs of $65,000.
Several macroeconomic factors have also played a role in this decline. The recent US Non-farm payrolls report showed a decrease in new jobs from 179,000 in June to 114,000 in July, with the unemployment rate rising to 4.3%. This weak economic data has contributed to negative market sentiment.
###解説
- The significant market downturn is a result of a combination of macroeconomic factors and large-scale liquidations by major institutions.
- The weak US Non-farm payrolls report indicates a slowing economy, which has negatively impacted investor sentiment and contributed to the sell-off in both traditional and crypto markets.
- Major liquidations, especially by large institutions like Paradigm and Grayscale, exacerbate market volatility and drive down prices further.
- The sharp decline in Bitcoin and Ethereum prices highlights the interconnectedness of the crypto market and its sensitivity to broader economic conditions.
- Despite the current downturn, long-term investors remain focused on the potential for recovery, looking for key support levels to stabilize and rebound.
As the crypto market navigates through this period of heightened volatility, understanding the underlying macroeconomic factors and market dynamics is crucial. Investors should remain vigilant and adjust their strategies to mitigate risks and capitalize on potential recovery opportunities.