We are halfway through September and Bitcoin (BTC) $60,106 The price continues to find buyers above $ 60,000. However, volumes have dropped significantly. Volume declines, which are common for weekends, can lead to very large losses during negative periods. We did not encounter such a bad surprise this weekend. So what is the general situation in cryptocurrencies?
Bitcoin Latest Situation
Altcoins continues to move sideways in general. Although Bitcoin made a short-term attempt at $ 59,400 in the last 24 hours, it maintains the $ 60,000 threshold. Fed week has arrived and the decision to be announced on Wednesday, Powell’s speeches will be extremely decisive for the markets. Fed meetings The situation is different this time for cryptocurrencies that have generally diverged negatively before. BTC is consolidating at higher levels ahead of the first interest rate cut in 4 years.
The next target for BTC is $63,800, and if we start seeing closes above it, we may see a new test of $65,000 in the coming days. At the end of August, the bulls who tested the key area failed here, so there was a drop to $52,500. Now, although the volume is weak, the protection of the $57,900 level is positive.
Open interest, which fell to $50 billion on September 7, has reached $56 billion for all cryptocurrencies again. Futures demand is strong and the September high was seen yesterday at $56.4 billion. OI for BTC is over $30 billion.
Latest Situation in Cryptocurrencies
In the last 24 hours, $43 million was liquidated, $27 million of which was triggered by the closing of long positions. SUI, BIGTIME, NEIROETH were the altcoins with the most liquidation. The total volume of cryptocurrencies on all exchanges fell to $36 billion and fell by 45 percent.
Investors appear to be taking Sunday off to prepare for the volatility that is expected to increase as of Monday. In the last 24 hours CKB Coin became the altcoin that gained the most and increased by 20 percent, TIA Coin The second place is found at $ 4.8 with a 10 percent gain. Among the top 100 cryptocurrencies, MATIC, HNT Coin leads the sales with a loss of over 5 percent.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
