The crypto market is struggling right now as all leading coins have plummeted in value in the last 7 days. Meme coins are facing the biggest price downturn as Pepe is trading at 21.8% lower, Book of Meme has a 23% decrease and Dogwifhat has 10.4%.
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The price of bitcoin is often described as a roller coaster, with its dizzying highs and sudden downturns. The recent liquidation of short positions worth $171 million is a striking example. While bitcoin (BTC) hit its lowest level at $53,300 earlier this week, it has since rebounded, surprising traders and marking a turning point in the cryptocurrency market.
Between revolutionary announcements, technological advancements, and regulatory turbulence, the crypto ecosystem continues to prove that it is both a territory of limitless innovations and a battleground of regulatory and economic challenges. Here is a summary of the most significant news from the past week around Bitcoin, Ethereum, Binance, Solana, and Ripple.
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Ethereum (ETH) has fallen below $3,000 for the first time in 50 days, causing shockwaves among crypto investors. This drop raises questions about the future of the market.
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Germany still holds 39,826 bitcoins, worth $2.2 billion, despite recent sales that have shaken the market. This reserve, representing a significant portion of bitcoin's daily trading volume, raises the specter of new turbulence.
The massive liquidations of PEPE have not deterred big holders, who see these drops as an opportunity to accumulate more memecoins.
The crypto market is in turmoil, and amidst the turbulence, some assets are drawing particular interest. The number of large wallets holding XRP continues to grow, although this crypto is facing many challenges. This mysterious accumulation is taking place in a volatile market environment, raising questions about the long-term prospects of this asset.