The post When Will the Crypto Market Rise Again? appeared first on Coinpedia Fintech News
The ongoing crypto repayments of Mt.Gox creditors have escalated the recent crypto pessimism fueled by heightened selling pressure from Bitcoin (BTC) miners and whales. According to on-chain data from Glassnode, more than 21k Bitcoins worth more than $1.2 were sent to cryptocurrency exchanges in the past week.
On-chain data shows that several Bitcoin and Ethereum (ETH) whales, who had collateralized loans on different decentralized applications (Dapps), were liquidated in the past 24 hours.
In the past 24 hours, more than $636 million has been liquidated from crypto derivatives trading, mostly by long traders.
Coinpedia reported that the fear and greed index has dropped from 44, neutral, to 29, fear, in the past 24 hours.
What Next?
#Ethereum reaches the lowest RSI (Daily) since the collapse in August ’23.#Altcoins have reached their lowest RSI (Daily) ever or of this cycle.
Clea
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