Altcoins
Bitcoin Price Volatility Rises, Altcoins Roller Coaster Ride: Market Watch
Over the past 24 hours, volatility has increased across the entire cryptocurrency market, which currently has a total capitalization of nearly $2.2 trillion, down 0.6% over this period.
It appears that the battle between Bitcoin buyers and sellers is continuing in full swing as the price remains tumultuous.
Bitcoin Price Volatility
As CryptoPotato reported earlier today, the total cryptocurrency market has declined over the past 24 hours, with BTC hitting an intraday low of around $54,300.
However, in the last few hours, the bulls took control and pushed the price up to $57,000, where it is trading at the time of writing.
The volatility is also reflected in the total number of liquidations, which has exceeded $300 million in the last 24 hours and appears to be in complete balance between short and long positions, indicating the fierce battle underway between the two cohorts.
Altcoins also rebound
Earlier today, most altcoins were seeing significant declines of between 3% and 10%.
At present, following the rebound of the last few hours, the situation has changed.
ETH managed to recover above $3,000 and is currently heading towards $3,100, up 1% in the last 24 hours. Other cryptocurrencies such as BNB, SOL, DOT, BCH, UNI, MATIC, and SHIB managed to swing the trading session into green territory, erasing some of the losses incurred earlier.
Overall, a lot is going to happen in the coming days that could impact the performance of the broader cryptocurrency market.
US CPI figures are due on Wednesday, which is an indication of inflation in the country. The chairman of the US Federal Reserve will also travel to New York. bear witness before Congress tomorrow and much of the attention is expected to be on monetary policy.
In other words, prepare for potential volatility.
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