Bitcoin And Ethereum Bleed 10% In Violent Crypto Market Shakeout

2021-5-11 23:26

Ethereum reached highs over $4,000 today and Bitcoin made another attempt at over $59,000. Within a two-hour window, more than 10% of recent gains were wiped out sending Ether back below the key level and Bitcoin tumbling lower.

Is this a sign of a reversal in the making, or are these powerfully trending assets simply too unstoppable right now for the rally to be over?

Ethereum, Bitcoin Dive Nearly 10% In Violent Free Fall

Ethereum has had one of its most productive months yet in terms of ROI, all while Bitcoin has struggled to maintain local highs. The recent altcoin season has been especially fruitful, propelling Dogecoin to nearly a dollar and Ether to $4,000.

Related Reading | Lucky Number 7: Ethereum Breaks Total Crypto Monthly Record

While Bitcoin consolidates, these altcoins are making the cryptocurrency’s recent run look like child’s play in terms of ROI.

However, much of that ROI was just erased in a matter of minutes.

Within two hours 10% was gone from both coins | Source: ETHUSD on TradingView.com What This Means For The Current Crypto Market Cycle

A long and nasty wick is all that remains on both BTCUSD and ETHUSD on the shortest timeframes. Currently, the daily on both crypto assets looks bearish but a bear trap ahead of a breakout isn’t out of the cards.

Crypto has been a full bull mode for some time, and a correction could also be long overdue. These assets are up hundreds if not thousands of a percent already this year, and have barely taken a breather.

Related Reading | Creator Of Flawless Top Indicator Says Bitcoin Isn’t Done, Despite Signal

Markets tend to correct when participants least expect it, and the current greed and exuberance has been the highest in years. An unexpected correction could leaves bulls gasping for air and wondering what happened.

Featured image from iStockPhoto, Charts from TradingView.com

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bitcoin ethereum wiped out recent sending gains

Источник: newsbtc.com

bitcoin ethereum → Результатов: 126


Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) See Higher Uptick in Discussions This Week: Here’s Why

The crypto market has been abuzz with discussions surrounding the top three cryptocurrencies by market capitalization – Bitcoin ($BTC), Ethereum ($ETH), and Solana ($SOL). As the Bitcoin halving event approaches and Ethereum and Solana face network-related challenges, the crypto community has been more vocal than ever about these assets.

2024-4-9 11:45


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Reddit IPO filing reveals treasury exposure to Bitcoin, Ethereum

Social media giant Reddit has been quietly buying Bitcoin and Ethereum with some of its excess cash and holds an undisclosed amount of the two tokens in its treasury for investment purposes. The social media giant’s crypto exposure details were revealed in its initial public offering (IPO) prospectus, which was filed with the SEC on […] The post Reddit IPO filing reveals treasury exposure to Bitcoin, Ethereum appeared first on CryptoSlate.

2024-2-23 00:23


Report Claims Ethereum is the Least-popular Cryptocurrency in 2023, While This New Bitcoin Fork is Trending

Ethereum (ETH) was once the premier smart contract platform, and it has encountered hurdles on its journey. Meanwhile, Bitcoin Spark (BTCS), a new Bitcoin Fork, is moving to the top. Let’s explore Ethereum’s chances of being a good investment option, contemplate ETH’s price predictions, and uncover details about the prominence of Bitcoin Spark in 2023.

2023-9-15 13:00


Why is Ethereum underperforming Bitcoin since the Merge?

Key Takeaways Ever since the Merge went live in September, Ether has underperformed Bitcoin significantly  This is despite the supply of Ethereum falling post-Merge More Ether is also being staked since the Shapella upgrade in April  Demand has fallen with regard to Bitcoin, however, overriding the lower supply Regulatory crackdown and greater institutional interest in […] The post Why is Ethereum underperforming Bitcoin since the Merge? appeared first on CoinJournal.

2023-7-24 11:56


Why is Ethereum outperforming Bitcoin since the Merge?

Key Takeaways Ever since the Merge went live in September, Ether has underperformed Bitcoin significantly  This is despite the supply of Ethereum falling post-Merge More Ether is also being staked since the Shapella upgrade in April  Demand has fallen with regard to Bitcoin, however, overriding the lower supply Regulatory crackdown and greater institutional interest in […] The post Why is Ethereum outperforming Bitcoin since the Merge? appeared first on CoinJournal.

2023-7-18 16:57


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