The encryption market is seen boxes of less than $ 700 million with a decrease in the price of Bitcoin – Cryptomode
Over the past 24 hours, the references in the cryptocurrency area have approached 700 million dollars, amid a decrease in the low price of currency in the cryptocurrency for a short time to less than 80,000 dollars.
Data from Coinglass He explains that derivatives have been liquidated at $ 697 million over the past 24 hours, with 519 million dollars from those who were long positions and $ 178 million in short positions. This period witnessed the total market value of the area by about $ 150 billion.
The decline comes amid a wider decrease in the market. The area has seen the area by about $ 500 billion in the total value since the start of the sale, based on data from data from Coinmarketcap. Given that the fear of encryption and greed drowned into 20, in the “extreme fear” area.
- Cracking market encryption. Source: CoinmarketCap
At the time of writing this report, Bitcoin is traded at only $ 80,700 after losing about 11 % of its value during the past week, while Ethereum is $ 2.033 after losing 11.3 % of its value. The second largest encrypted currency decreased by market ceiling for less than 2000 dollars before recovery.
Other higher encrypted currencies, including Binance’s BNB, XRP, Sol, Doge and Cardano Ada, decreased between 6 % and 26 % during the past seven days as merchants flow out.
The encryption market related to the high revenues of Japanese government bonds
The collapse of the coded currency market has been linked by analysts with disappointment surrounding the American strategic encryption reserve that has been announced, as it will only consist of assets that the government has already seized, with no other purchases.
Moreover, government bond returns in Japan have increased for 20 years to their highest level since 2008, as he led investors away from risk assets, including Bitcoin and General Cryptocurrency, where Japan Bank can raise interest rates in the near future.
Raising interest rates leads to a height of the yen, which reduces the attractiveness of pregnancy deals that see investors borrowing currency to invest in risk assets that can lead to higher returns, including bitcoin.
