Zinger Key Points
- Global cryptocurrency market capitalization is trading 5.5% lower to $2.5 trillion.
- One trader sees the current market trend as a standard pattern for Bitcoin and altcoins.
- Find out which stock just plummeted to the bottom of the new Benzinga Rankings. Updated daily—spot the biggest red flags before it’s too late.
Cryptocurrency markets are following traditional financial markets lower on Monday.
Cryptocurrency | Price | Gains +/- |
Bitcoin BTC/USD | $78,943.09 | -4.5% |
Ethereum ETH/USD | $1,871.07 | -8.2% |
Solana SOL/USD | $119.69 | -7.3% |
XRP XRP/USD | $2.07 | -4.5% |
Dogecoin DOGE/USD | $0.1572 | -8.2% |
Shiba Inu SHIB/USD | $0.00001178 | +0.3% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume increasing by 7% and daily active addresses falling by 0.4%. Transactions greater than $100,000 are up from 6,862 to 7,649 in a single day. Exchanges netflows are down by 120.7%.
- Coinglass data reports 267,885 traders were liquidated in the past 24 hours for $822.68 million.
Notable Developments:
- Coinbase To Introduce 24/7 Crypto Futures, Plans Perpetual-Style Contracts For US Market
- Why Did Trump’s Strategic Crypto Reserve Not Include XRP?
- Crypto Exchange Kraken Sets Sights On 2025 Initial Public Offering
- Bitcoin, Ethereum Trading Services To Be Offered By Spain’s Second-Largest Bank
- Strategy Files For $21B In Preferred Stock To Fund Bitcoin Acquisition
- Bitcoin’s Drops Below $80,000: Correction Or Buying Opportunity?
Top Losers:
Cryptocurrency | Price | Gains +/- |
Lido DAO LDO/USD | $0.8955 | -13.9% |
Maker MKR/USD | $1,080.84 | -11.2% |
Aptos APT/USD | $5.17 | -10.6% |
Trader Notes: With Bitcoin continuing to decline, crypto trader CJ warns that BTC needs to reclaim its current range soon or risk an imbalance that could drive prices as low as $70,000.
Michael van de Poppe highlighted a recurring market pattern: dump on Sunday and Monday, followed by sideways/slightly up for the rest of the week. In another post, he pointed out that eight of the last nine Sundays saw significant crashes and expects more of the same for March.
More Crypto Online suggests that a move above $84,110 could indicate a potential bottom, identifying key support at $77,859 and $75,000.
What's Next:
Image: Shutterstock
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