Over $1B wiped out in crypto liquidations as global markets suffer

Crypto traders faced significant losses as major cryptocurrencies, including Bitcoin and Ether, experienced a sharp decline, resulting in over $1 billion in liquidations.

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Solana (SOL) Ripe For Price Discovery, Analyst Eyes $600 Target

Market watchers have praised the Solana (SOL) price action throughout the month. The fifth-largest cryptocurrency by market capitalization has displayed a strong performance despite the market shakeouts, recently reclaiming the $160 support level. Analysts suggest that SOL might repeat history and kickstart a rally toward a new all-time high (ATH) soon. Solana Breaks Out Of [...]

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Brace For Impact: Ethereum Price Could Plunge To $1,200 In December, Says Expert

Ethereum (ETH) price has struggled amid another market shakeout. The second-largest cryptocurrency by market capitalization fell below the $2,600 support zone for the third time in the past week, prompting crypto analysts to evaluate the next levels to watch out. Related Reading: Is Ethereum Poised for Inflation? Supply Reaches New High as Staking Takes Off ETHs Key Support Zone To Watch Out The crypto market has seen several retraces throughout the cycle, with cryptocurrencies like Ethereum significantly decreasing from its Q3 opening. Since July 1, the king of altcoins has seen a 24% drop from the $3,400 support level. Following its fall below the $2,100 mark during the Black Monday crash, ETH has hovered between the $2,300 and $2,700 range. The cryptocurrency has recovered around 18% of its price while tries to reclaim the $2,600 level. Nonetheless, the recent market shakeouts have made the price retest the strength of the $2,500 support zone three times in the last two weeks, which turned experts wary of ETHs next step. Renowned crypto analyst Ali Martinez stated that investors should pay attention to a key support zone after Ethereums performance. To Martinez, the $2,300 and $2,380 price range should be watched if ETH continues its downward trend. According to the In/Out of the Money Around Price (IOMAP) chat shared by Martinez, 1.62 million addresses bought over 50 million ETH at this zone, making it the next wall of support for Ethereums price. If the cryptocurrency fails to hold this level, its price could drop to $2,200 and even levels not seen since February. Will Ethereum Drop To $1,200 This Year? Other experts have suggested that the second-largest cryptocurrency could see its price drop even lower, as even giants will fall. Top analyst Benjamin Cowen stated that the collapse of ETH/BTC is almost completed. A year ago, Cowen forecasted that the collapse of the trading pair would mark the end of the altcoin reckoning. He explained that altcoin reckoning refers to the devaluation of the altcoins on their BTC pairs. The analyst added that ETC/BTC was the last one to rise in the bull and it can be the last to fall in the bear. To him, this trading pair has four more months before it goes up next year. Additionally, Cowen predicted that Ethereums price could hit the $1,200 price range in December if its performance is similar to the last two cycles. Crypto investor Ted Pillows urged investors to hold on throughout the troubled waters, suggesting that a $10,000 is still possible. To the trader, the King of altcoins is not dead based on different factors. Ted highlighted that spot Ethereum exchange-traded funds (ETFs) inflows have increased while Grayscale outflows have progressively gotten smaller, and Jump Trading has only around $60 million in ETH to sell. Related Reading: Will Bitcoin (BTC) Trade Back Above $70,000 By September? Analysts Weigh In Moreover, ETH is strongly holding its support level, which he deemed the most important factor. Ultimately, the investor Predicts that the consolidation breakout will occur between November and December, while the parabolic run will start in Q1 2025. Featured Image from Unsplash.com, Chart from TradingView.com

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Bittensor (TAO) To Lead The AI Wave: Analysts Bullish Despite 10% Price Drop

Bittensor (TAO) has been one of the best-performing AI (Artificial Intelligence) tokens this cycle after surging 180% during Q1 2024. The token has significantly retraced from its march all-time high (ATH) and is currently testing key resistance levels. Some crypto analysts seem unsure about TAOs short-term performance but remain bullish long-term. Bittensor To Lead The [...]

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MATIC: Experts Warn Of Key Support Level As Price Hits Two-Year Low Levels

MATIC, Polygons native token, recently suffered a significant price decline amid a broader market downturn. The token dropped over 20% in the past month, reaching its lowest price level in two years. As the market recovers, some analysts have made a bullish case for the token but warned of a key level to watch. MATIC [...]

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Market Strategist Predicts 32% Stock Market Crash, How Will This Affect Crypto?

Peter Berezin, chief global strategist at BCA Research, has predicted that the stock market will experience a significant crash by 2025. His prediction is noteworthy, given the impact that a decline in the stock market could have on the crypto market. Market Expert Predicts 32% Crash In Stock Market Berezin mentioned in an interview that the S&P 500 will decline by 32% and drop to 3,750 by next year. He explained that this downtrend would occur due to a recession in the US, which he predicts could happen at year-end or early 2025. He claimed that the reduction in consumers spending is already hinting at this recession as households have no savings to spend and banks are tightening their lending standards. Related Reading: Cardano Sees 1,218% Spike In This Major Metric, Will ADA Price Follow? Berezin also alluded to the rising unemployment rate, which he noted shows that the labor market is weakening and hints at an imminent recession. The market strategist warned that the Federal Reserves tightening monetary policy will make matters worse as the Central Bank continues to drag its feet in cutting interest rates. A potential decline in the stock market could negatively impact the crypto market, given Bitcoins strong positive correlation with the S&P 500 at times. Whenever this happens, Bitcoins price, and by extension, the broader crypto market, is known to move in the same direction as the stock market.  Furthermore, based on Berezins analysis, a recession could have the same impact on the crypto market since consumers will have less to invest in Bitcoin and altcoins, which could cause trading volumes to dry up and lead to price declines for these crypto tokens. The crypto market has also shown that it is not immune to macroeconomic factors, considering how it has reacted to the Feds decision not to reduce interest rates just yet.  Some Positive For Bitcoin And The Crypto Market The US June Consumer Price Index (CPI) inflation data was released on July 11. It provided a positive for Bitcoin and the crypto market, showing that the inflation rate dropped by 0.1% from May and put the annual rate at 3%, the lowest over three years. This development has further strengthened the call for the Fed to cut interest rates, as inflation is cooling off in the country.  Related Reading: Analyst says Ethereum Will Reach $8,000 ATH, But This Needs To Happen First A cut in interest rates would boost investors confidence in investing more capital in risk assets like Bitcoin and other cryptocurrencies. Meanwhile, there is the belief that the Fed could cut interest rates by September if the monthly inflation data continues to show that inflation is slowing in the country.  At the time of writing, Bitcoin is trading at around $57,000, down almost 2% in te last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

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Over 1.8 million Crypto Projects Failed This Year: CoinGecko

CoinGeckos latest study reveals 1.8 million crypto projects failed in 2025, with over 50% of cryptocurrencies since 2021 now dead

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Beyond Trumps Tariff War, Fake Rumors Trigger $100B Crypto Wipeout

The crypto and stock market is still reeling after Donald Trump’s tariff bombshell last Wednesday. Market observers have collectively agreed on the worst plunge in crypto (or stock) values since the opening months of COVID-19 back in March and April of 2020. But what caught everyone’s attention were odd events on Monday, April 7th, with […]

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Hedera Freefalls 11% Reversing to Previous Support as Alt Sector Crashes Down

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Robert Kiyosaki Drops Bombshell Bitcoin Insight in Market Turmoil

As Wall Street reels from one of the biggest market crashes in recent history, Rich Dad Poor Dad author Robert Kiyosaki has stepped forward with a bold message: I told you so. In a candid and urgent statement, Kiyosaki pointed to a prediction he made in his book Rich Dads Prophecy warning of a […]

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Bitcoin Holds Above $80k: Is the Digital Gold Ready for a Major Breakout?

The cryptocurrency known as “Digital Gold” seems likely to experience a breakthrough increase in value. The ongoing stability of Bitcoin prices above $80k during this weekend would establish Bitcoin as a dependable asset against the monetary dilemmas of conventional financial systems. Since its inception, BTC has faced an unprecedented bull market due to expected rate […]

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ACT Memecoin Crashes 50% As Several Altcoins Suddenly Tank On Binance Whats Going On?

On Tuesday morning, several altcoins nosedived up to 50% on global crypto exchange Binance, sparking confusion among investors. Several community members shared theories for the incident, speculating that recent adjustments in the exchanges position limits could be responsible. Related Reading: Is Bitcoin (BTC) Poised For A Q2 Recovery? Analyst Points To 2017 Similarities Altcoins See Q2 Opening Crash On Binance Multiple altcoins saw a peculiar start to Q2 after their price tanked on Binance on Tuesday morning. The crypto community raised the alarm after Solana-based memecoin and AI Agent token Act I: The AI Prophecy (ACT) plunged around 50% in less than an hour. The cryptocurrency, which once had a market capitalization of $722 million, has moved sideways for most of March, hovering between the $0.18-$0.19 price range until today. In 30 minutes, ACT crashed from the $0.189 mark to the $0.087 level, registering a 53% fall. Similarly, the DEXE, KAVA, DF, HIPPO, BANANAS31, LUMIA, TST, and QUICK tokens also recorded a sudden price drop, losing between 10% and 35% of their value in an hour. ACTs team acknowledged the incident, stating, Dear ACT community, we want to assure you that we’re fully aware of the current situation. Our team is actively investigating and working collaboratively with all relevant parties to address this matter. The post also noted they had begun developing a response plan alongside their trusted partners. Analyst Altcoin Sherpa suggested that a price bounce for ACT seems likely but noted that ppl might realize that they dont really want to hold this coin and view this as a forced rebalance event. Nobody buying. Nobody selling. No April Fools Joke As Binance posted about a different April Fools joke, investors started to speculate what caused the sudden bleeding, with some joking that the prank had gone too far. The crypto community guessed that Wintermute was responsible for the Altcoin massacre, as it reportedly liquidated several of its positions today. Nonetheless, the trading firms CEO, Evgeny Gaevoy, denied the rumors, stating, Not us fwiw, but also curious about that postmortem. Meanwhile, Lookonchain suggested that Binances recent update of its leverage and margin tiers on several altcoins, including ACT, could have been the reason for the token crash. Six hours later, Binance Customer Support replied to Wu Blockchains report, revealing that the reason for the dump was that three VIP users cross-sold tokens worth 514,000 USDT in the spot market and a non-VIP user transferred a large amount of ACT from other platforms and sold 540,000 USDT worth of the token in a short period. As a result, the cryptocurrencys price dropped, which led some users to close their futures contracts, triggering the decline of other altcoins. The crypto exchange pointed out that they recently took the initiative to take preventive measures to adjust leverage multiples downward. Related Reading: Crypto Analyst Calls Dogecoin Chart A Beauty As Key Indicators Align Binance Contracts has recently issued consecutive adjustment announcements for the ACTUSDT perpetual contract, during which there was no market movement and no active reduction of any user’s position, the post detailed. Binance added that it will continue to investigate the incident and update the relevant details if there is any news, concluding that the crypto market has been volatile recently and asking investors to exercise caution. Featured Image from Unsplash.com, Chart from TradingView.com

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Bitcoin Drops As Iran Launches Missile Attack On Israel What We Know So Far

The price of Bitcoin took a nose dive on Saturday following reports of Iran launching missile and drone attacks on Israel. Alongside the market leader, many other prominent cryptocurrencies also experienced a significant selloff as news of a brewing international conflict in the Middle East circulated on the internet. Related Reading: Bitcoin Halving: A Tale Of 2 Emotions Will FOMO Or FUD Rule The Market? Bitcoin Suffers Major Decline For Second Consecutive Day According to multiple reports on April 13, Iran commenced a drone attack against Israel in retaliation to an attack on an Iranian diplomatic building in Syria on April 1 which claimed the lives of nine Iranian officers, including a highly ranked general in Iran’s Islamic Revolutionary Guards. This incident marked Irans first-ever direct assault on the Jewish state following years of rising political tensions between both countries. With the Iranian forces confirming further missile attacks on specific targets in Israel, it is likely that both nations may be heading for a full-scale war. Following reports of the drone attacks in the Middle East, Bitcoins price dropped by 8.07%, falling from $67,132.1 to $61,710.58, reflecting a high selling pressure. Interestingly, this price action marked the second consecutive day the maiden cryptocurrency suffered a significant loss following a 5% decline on Friday amidst minor turbulence in the US stock markets. Generally, Bitcoin has shown an underwhelming performance in the past weeks, recording a 12.51% loss in the last month based on data from CoinMarketCap. The maiden cryptocurrency has struggled to replicate its bullish form seen at the beginning of 2024 when it achieved a new all time high price of $73,750.07. However, with the Halving event fast approaching, BTC investors are likely optimistic about a potentially massive price gain in the coming months based on historical price data.  Currently, Bitcoin trades at $63,943, showing a 3.61% gain from its earlier slump on Saturday. In tandem, the tokens daily trading volume is up by 22.46% and valued at $57.37 billion. Bitcoin trading at $63,971 on the daily chart | Source: BTCUSDT chart on Tradingview.com Related Reading: Waiting For The Bitcoin Bull Run To Resume? Heres The Indicator To Watch For Altcoins Not Spared From Market Crash Alongside Bitcoin, the price of altcoins also decreased significantly due to the escalated geopolitical tension in the Middle East. Ethereum, the most popular altcoin and second largest cryptocurrency, suffered a loss of 10.89%, falling as low as $2,880.16 Meanwhile, other prominent tokens such as Solana (SOL), XRP, and Avalanche (AVAX) also recorded price dips to the tune of 12.68%,18.11%, and 16.00%, respectively. Generally, the total crypto market cap declined by 7.78%, falling to around $2.2 trillion. Featured image from Shutterstock, chart from Tradingview

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Is the Hype OVER? NFT Sales Dip to $93.7M Or Is This Just the CALM Before the Storm?

The slump in the broader crypto market seems to also be affecting the NFT market, as sales volume for NFTs dropped by 4.38% in the last seven days to $93.6 million. Data from leading NFT analytics platform CryptoSlam showed a further decline in NFT sales volume from the previous week’s drop to $102.8 million. Sharp […]

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Crypto Stocks Crash Amid Bitcoin and Altcoin Market Crash

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Deutsche Bank CRASH: Will Crypto prices go UP further?

Can Bitcoin and crypto prices go up further after further negative developments in this potential Deutsche bank crash?

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Silvergate Crypto Bankruptcy: Why did Silvergate Crash?

Silvergate crypto bank has announced that it will begin the process of "winding down" its operations and liquidating its bank. What happened?

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No Second Chance! Dogecoin Creator Blasts SBF Comeback Attempts

The founder of Dogecoin, Billy Markus, hit out at the former FTX CEO's attempts to comeback.

Continue reading No Second Chance! Dogecoin Creator Blasts SBF Comeback Attempts at DailyCoin.com.

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‘FED sledgehammer’ will further batter BTC, ETH prices, says Bloomberg analyst

With the Merge resulting in a ‘buy the rumor, sell the news event,’ Mike McGlone thinks that ETH might drop to “$1,000, or even get a bit lower" given how hawkish the Fed has been.

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Crypto Prices Remain in Red, Shina Inu Falls Over 15%

Cryptocurrencies remain to behave weakly after the weekend. (Read More)

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