Experts explain the reason for the volatility of major cryptocurrencies

Bitcoin BTC $111,730.00 Mezo Wrapped BTC -1.41% Market capitalization $41.34 million VOL. 24 hours $1.86 billion is holding at about $ 112 thousand, while Ethereum ETH $4,293.78 Bridged Ether (StarkGate) -2.66% Market capitalization $0.1 billion VOL. 24 hours $2.16 billion is showing steady growth amid active accumulation by large investors. According to market data, investor sentiment has returned to «neutral» after a period of «greed».

As of 23:00 EST, Bitcoin’s price was $ 111,564 (0.16%), Ethereum rose to $ 4,427 (1.89%), Dogecoin DOGE $0.21 Binance-Peg Dogecoin -0.87% Market capitalization $0.55 billion VOL. 24 hours $0.23 billion - to $ 0.218 (0.78%). XRP XRP $2.81 XRP -1.13% Market capitalization $167.37 billion VOL. 24 hours $0.26 billion decreased by 0.44% to $ 2.84, and Solana SOL $202.93 Binance-Peg SOL -1.55% Market capitalization $0.22 billion VOL. 24 hours $0.66 billion lost 1.18%, dropping to $ 208.76. The total capitalization of the crypto market reached $ 3.87 trillion, up 1.29% over the day.

Ethereum hit an intraday high of $ 4,489 after news of a $ 44 million investment from a Jack Ma-affiliated company in the ETH strategic reserve. Ethereum’s market dominance increased to 13.9%, while Bitcoin’s share dropped to 57.7%.

Over $ 100 million of short positions were liquidated in a day. At the same time, the open interest in Bitcoin fell by 1.33%, which may indicate the closing of short deals. According to Binance, 58% of traders hold long positions on BTC’s growth.

Santiment analysts reported a 14% increase in Ethereum accumulation by «millionaires» and «small billionaires» over the past five months. In addition, the amount of ETH on exchanges has dropped to the lowest level in nine years, which, according to crypto influencer Lark Davis, confirms the long-term strategy of large holders.