The cryptocurrency market lost $ 1.5 billion per day amid the fall of bitcoin

The crypto market started the week with a sharp drop: according to Benzinga, liquidations reached $ 1.5 billion over the last day, of which $ 1.34 billion were accounted for by long positions. This increased the «fear» among investors, as shown by the Crypto Fear & Greed index.

As a result, Bitcoin dropped BTC $111,515.00 Mezo Wrapped BTC -0.26% Market capitalization $58.84 million VOL. 24 hours $1.26 billion by 1.69% to $ 112,511, and during the day it fell below $ 113,000. Analysts note that the asset is stuck in the range of $ 112−113 thousand, while the zone of potential liquidations stretches down to $ 107 thousand and up to $ 118−122 thousand: «hot» labor market and steady inflation can send BTC below $ 107 thousand.

Ethereum ETH $3,844.03 Bridged Ether (StarkGate) -0.75% Market capitalization $88.53 million VOL. 24 hours $0.76 billion fell by 3.51% to $ 4,189, and during the day it traded within the range of $ 4,100−4,200. ETH’s value is already 15.6% lower than its all-time high last month. Analysts point to critical support in the range of $ 3,900−4,100, which is necessary to maintain the bullish scenario.

Other altcoins also showed a minus: XRP XRP $2.51 XRP 0.07% Market capitalization $150.61 billion VOL. 24 hours $0.12 billion - $ 2.84 (-2.61%), Solana SOL $185.27 Binance-Peg SOL -0.72% Market capitalization $0.2 billion VOL. 24 hours $0.3 billion - $ 219.44 (-6.08%), Dogecoin DOGE $0.18 Binance-Peg Dogecoin -1.95% Market capitalization $0.47 billion VOL. 24 hours $71.63 million - $ 0.2405 (-3.95%). The total capitalization of the crypto market decreased by 3.09% to $ 3.89 trillion.

Interestingly, amid the sell-off in cryptocurrencies, US stock indices have updated their highs: S&P 500 rose by 0.44%, Nasdaq — by 0.70%. The growth was driven by Nvidia, whose shares added 3.93% after announcing an investment of up to $ 100 billion in OpenAI.