The virtual currency market, which has been rising since the beginning of this year, suddenly ushered in a wave of sharp decline.
At 11 o'clock on December 11, Bitcoin** suddenly dived, and in just 15 minutes, it once exceeded $2,000 and was tentatively quoted at $42,003. Other virtual currencies also fell across the board.
Bitcoin suddenly dived, and 110,000 people liquidated
From 11 o'clock at noon, Bitcoin** fell rapidly, and within 10 minutes, it was hit by the bears "waterfall", falling below the two integer levels of $44,000 and $43,000 one after another.
After losing the key point, Bitcoin's bullish defensive front collapsed at the touch of a button, and at 11:20, Bitcoin** fell again by a huge amount, and the lowest price of the day fell to $40,413.
According to Coinglass statistics, as of 11 o'clock on December 11, the number of liquidations on the whole network in 24 hours once exceeded 110,000, and the total amount of liquidations was as high as 38.6 billion US dollars (about 27 yuan.)700 million yuan).
Due to the sharp fall of Bitcoin, the virtual currency market has suffered a bloodbath, and many mainstream virtual currencies have fallen sharply. As of press time, a number of popular cryptocurrencies are showing ** trends.
The total cryptocurrency market cap is close to 1$5 trillion
The market is still fraught with crisis
According to the data, the market value of Bitcoin has now surpassed Meta, rising 3 places to rank 9th in the global asset market capitalization, with a market value of about 8567$300 million, 7 days**1107%, Meta market capitalization is about 8551$200 million, 7 days**244%。
Since the beginning of this year,Bitcoin can be described as a "mad cow"**, which has risen by more than 145% this year. The total market capitalization of cryptocurrencies has grown rapidly due to the overall upside. According to Coingecko data, the total market capitalization of cryptocurrencies is currently close to 15 trillion US dollars (about 107 trillion yuan).
According to the **Times on December 5**, in response to the sharp rise, some analysts pointed outExpectations that a Bitcoin spot ETF will be approved in the U.S. next year, coupled with rising expectations of a Fed rate cut, have sparked excitement about the cryptocurrency market, driving Bitcoin's recent rally.
U.S. investors are pouring into the virtual currency market, with cryptocurrency positions on eToro's U.S. platform increasing by 28% month-on-month, according to data from investment platform eToro and discussions on social media. At present, some market analysts are becoming more and more optimistic about the expectations of the bitcoin market, and some analysts even boldly shouted: "Bitcoin ** will break through the $100,000 mark in 2024".
However, in the face of the recent sharp rise in the virtual currency market, there are also many analysts who warn of risks. Among them, Ayyar, vice president of international markets at cryptocurrency exchange CoinDCX, warned that if the Bitcoin ETF is rejected by US regulators again, the current round of bitcoin rally may come to an end and continue**.
He further said that the current rally in Bitcoin is largely based on the expectation of the approval of Bitcoin spot ETFs. "A blanket rejection of the Bitcoin ETF could also wreak havoc on this round of cryptos**, so it definitely needs to be watched closely," Ayyar said. ”
In fact, the current virtual currency market is still full of crises. This summer, U.S. regulators accused Binance, the world's largest virtual currency trading platform, of operating without a license and violating a series of U.S. laws.
A cryptocurrency industry practitioner saidAt present, the regulatory policies in the United States are unclear, and in the absence of compliance supervision trading venues, the management of user assets is difficult and risky.
Wang Dongwei, director of Zhongtai Capital, said that there are still many risks in investing in virtual currency assets, including high volatility, market instability, lack of supervision, etc. At the same time, investors may encounter ** on virtual currency investment, so they need to be cautious.
*丨Public information, China ** News, Daily Economic News, ** Times.
sfc
This issue is edited by Li Yutong.
21 Jun recommended reading
Liu Qiangdong's internal speech**: I blame myself very much, but I won't lie flat!
Spend 100,000 bets, one person wins 2200 million, and you don't have to pay taxes? Bai Yansong spoke.
Sudden increase in patients! Doctor's reminder: reduce going out at night