The week ends with a nightmare hour. The bulk of the crypto market loses in double digits, with smaller losses only for top of the range, i.e. for the most capitalized cryptocurrencies. All this in the absence of particular events, on a day – on the meme front – also agitated by live by Roaring Kitty.
300 million liquidations in less than an hour, numbers that have not been seen for some time and which have contributed to creating the unhealthy panic that unfortunately triggers in these circumstances.
As we have written a little while ago, it is not a question of fundamentals, which remain fundamentally unchanged despite this terrible event, which will have thrown many people into despair. We are following the situation on ours minute by minute Official Telegram channel – which we invite you to enter to stay up to date on the crypto and Bitcoin world.
Friday ends with an hour of real fear
One flush toilet as we have not seen for a long time, which has thrown the majority of people into despair, especially those who are most exposed to meme coinand towards the cryptocurrencies that had performed best during the last trading days.
Bad NOT, bad CFX, bad Starknet, bad Lido, bad Gala. Worldcoin and Optimism also did badly, for a real nightmare hour that liquidated a significant amount of positions.
An unexpected collapse? Absolutely yes, in the absence of data, at least for now, that justify these chain sales.
Bitcoin it holds, just as Tron basically also holds, the tokens of the Bitget and OKX and Nexo exchanges, and Ethereum.
Technical event or fundamental change?
Just as little is enough, or rather very little, to excite the crypto market, it is equally enough to throw it into absolute despair. In the absence of important news justifying sales of this level, it remains absolutely necessary for us to remain calm and possibly look to the medium and long term.
We will continue to monitor the situation on our Telegram channel and on this site, within a framework that seems to have, at least for now, largely calmed down.
FOMC meeting next week
Next week will be dominated by the FOMC meeting, the Federal Reserve meeting that sets interest rates in the US.
The appointment is for next Wednesday, when the accompanying press conference by Jerome Powell will have more weight than the data itself which is quite obvious. There will be no movements or cuts, at least for now.
For the rest, you will have to be patient and – if you are new to the sector – learn that just as you can earn a lot in terms of price in a matter of a few hours, the same can happen in the opposite direction. It is the world of cryptocurrencies, which is also popular for its volatility.
