The crypto market goes back after massive liquidations

Liquidations during the past day totaled $ 384.4 million, a considerable decline compared to previous days. In parallel, the overall market capitalization of the Crypto market increased by 1.1 % in the last day. The Crypto market is recovering after massive liquidations The drop in the market has been mainly caused by fears of a global recession, trade wars between the United States and several countries, and general macroeconomic uncertainty. Consequently, the respective courses of Bitcoin (BTC) and Ethereum (ETH) fell to records both monthly and annual. This sharp decline led to generalized liquidations, especially with nearly a billion dollars on Tuesday, March 11. Nevertheless, the latest data on the Crypto market draw up a slightly more favorable board. According to Coinglass data, $ 384.4 million has been liquidated in the past 24 hours. Among these, 138.2 million came from long positions, while 246.2 million were short positions. Crypto market liquidation. Source: Corquest Bitcoin has thus recorded liquidations of $ 186.7 million, with 146.0 million awarded to short positions. Ethereum has known $ 73.6 million in liquidation, with 40.3 million from long positions and 33.1 million short positions. In parallel, the Bitcoin course has returned to ground above $ 80,000, currently negotiating at 82,299 dollars. This is an increase of 3.6 % during the last day. Bitcoin course performance. Source: BEINCRYPTO It is also interesting to note that the recovery could be linked to recent diplomatic developments. Indeed, according to Bloomberg, Ukraine accepted a temporary cease-fire of 30 days in response to an American proposal. This has somewhat reduced the geopolitical tensions that had previously weighed on the market. In addition, the US state of Ontario has suspended 25 % prices on electricity exports to Michigan, New York and Minnesota. This has also marked a major step towards appeasement in trade tensions. Certain American political figures, including Mike Johnson, president of the Chamber, also provided necessary insurance for the markets. Johnson has indeed suggested that the economic policies of President Trump, which initially contributed to the instability of the market, would ultimately stabilize the economy. “Give the president a chance to let these policies take place,” he said. In addition, the White House spokesperson Karoline Leavitt noted that the drop in the market was a temporary state rather than a final or permanent trend. “We are in a period of economic transition,” said Leavitt. She thus underlined the idea that market figures, such as equity prices, transactions volumes and liquidations, reflect a specific point in time and can evolve. Together, all these factors contributed to a slow but clear resumption of the Crypto market. Morality of history: Uncle Sam loves teasing his crypto nephew. Notice of non-responsibility Non-responsibility notice: In accordance with the guidelines of The Trust Project, BEINCRYPTO undertakes to provide impartial and transparent information. This article aims to provide exact and relevant information. However, we invite readers to verify the facts of their own and consult a professional before making a decision on the basis of this content.

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