Cardano

Digiverse

Dogecoin

Flash

Million

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 The crypto market cap plummeted over 4% in the past 24 hours in a flash crash that saw Bitcoin (BTC) plunge below $67K and the top 10 cryptos all suffer substantial losses.
 BTC saw its price fall more than 4%, while altcoin leader Ethereum (ETH) shed more than 5% of its value over the past day of trading. 
 Dogecoin (DOGE) was the biggest loser among top cryptos by market capitalization with a 9% plunge, trailed closely by Avalanche (AVAX) with more than 8%. <img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="Exploring the Post-crash Cryptocurrency Market | Toptal®" data-lazy-src="https://cdn.thebittimes.com/images/2024/04/02/e629094ff0b4872387709cf03354b3ba.webp">
 <noscript><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/02/e629094ff0b4872387709cf03354b3ba.webp" alt="Exploring the Post-crash Cryptocurrency Market | Toptal®">
 </noscript>
 <h2 id="span-style-font-weight-400-crypto-flash-crash-ignited-by-long-term-holders-span">Crypto Flash Crash Ignited By Long-Term Holders</h2>
 The selloff also brought an end to the positive streak for Solana (SOL), which plunged 7% to trade at $182.37 as of 5:50 a.m. EST.
 Meanwhile, Binance Coin (BNB) and XRP both tumbled more than 3%, while Cardano (ADA) dropped 6%.&nbsp;
 Crypto exchange Bitfinex attributed the drop to long-term holders (LTHs) taking profits after Bitcoin hit new all-time highs. It added that this selling is on a smaller scale than during previous bull market peaks.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Despite selling pressure from LTHs, <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> using UTXO Age Bands indicates buying activity. This serves as a support level, driven by new investors joining and existing investors increasing their positions, showing belief that the market can go higher 📈https://t.co/LJrGTOQ6Y1
 — Bitfinex (@bitfinex) April 1, 2024
 </blockquote>
 
 Bitfinex analysts estimate that more than $2.6 billion in profit was captured through on-chain transactions in the past three weeks. About 40% of this profit-taking is linked to the LTH group, the exchange said in a blog post.&nbsp;
 <h2 id="span-style-font-weight-400-us-dollar-rises-off-the-back-of-positive-fundamentals-span">US Dollar Rises Off The Back Of Positive Fundamentals</h2>
 The strength of the US Dollar also played a role in the crypto market’s flash crash after data showed the US manufacturing sector grew in March for the first time since September 2022, according to a Reuters report.&nbsp;
 Robust consumer spending and stabilizing inflation suggest a potential recovery for several sectors is on the cards, Bitfinex said.
 <img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="TVC:DXY Chart Image by StevenWalgenbach" data-lazy-src="https://cdn.thebittimes.com/images/2024/04/02/ea3571de59245922a7379421f5fb2ff3.webp">
 <noscript><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/02/ea3571de59245922a7379421f5fb2ff3.webp" alt="TVC:DXY Chart Image by StevenWalgenbach">
 </noscript>
 Dollar Index Chart (Source: TradingView)
 Despite the selloff, crypto presales continue to soar. Even though Dogecoin (DOGE) slumped, Dogecoin20 has extended its presale after overwhelming demand powered it past $10 million.
 And new Solana meme coin Slothana ($SLOTH) has raised $5.8M in a little more than a week.
 SLOTH is following in the footsteps of $SLERF, $BOME, $PUMP, and $PUNDU, meme coins that introduced a new way of launching on Solana that skips traditional price stages and timers for presales where people send $SOL to a token address.
 <h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3>
 <ul>
 <li style="font-weight: 400;">Are Crypto Presales Worth It? The Pros and Cons You Need to Know!</li>
 <li style="font-weight: 400;">FTX Founder Sam Bankman-Fried Expresses Remorse After Receiving 25-Year Prison Sentence</li>
 <li style="font-weight: 400;">Digiverse Price Prediction: DIGI Dumps 8% As Investors Turn To This World-First AR/VR ICO That’s Charging Towards $4 Million</li>
 </ul>
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cryptocurrency-flash-crash-slices-4-off-crypto-market-cap-as-bitcoin-solana-dogecoin-plunge-tbt84215.html">https://thebittimes.com/cryptocurrency-flash-crash-slices-4-off-crypto-market-cap-as-bitcoin-solana-dogecoin-plunge-tbt84215.html</a>
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Cryptocurrency Flash Crash Slices 4% Off Crypto Market Cap As Bitcoin, Solana, Dogecoin Plunge

Indice dei contenuti

TheBitTimes

Altri articoli pubblicati su 2 apr 2024

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