Latest news with #CoinGlass
Yahoo
5 days ago
- Business
- Yahoo
XRP, DOGE, SOL Lead Crypto Selloff, But Altcoin Season Still in Play if This Happens
While bitcoin (BTC) slid only modestly, other major cryptocurrencies tumbled over the past few days, sparking doubt of the durability of the so-called altcoin season. XRP (XRP), dogecoin (DOGE) and Solana's SOL (SOL) declined the most among the top 10 cryptos on Friday, slipping around 5% each over the past 24 hours, CoinDesk data shows. From the Wednesday highs, XRP and DOGE plunged around 18%, while SOL was down 12% over the same stretch. The CoinDesk 80 Index, consisting of mid-cap tokens outside of the CoinDesk 20, lost 10% from the weekly peak. Meanwhile, BTC was changing hands around $116,000, a bit more than 3% lower from its mid-week peak of $120,000. Ethereum's ether (ETH) was 4% below its weekly high, supported by steady accumulation by crypto treasury strategy firms. When altcoin season? The sharp sell-off of the past few days came after weeks heavy capital rotation into smaller tokens, fueling talks of a full-blown altcoin season. That period, sometimes dubbed alt season, occurs when riskier, smaller tokens outperform bitcoin, the leading crypto, for a sustained period. CoinGlass' Alcoin Season Index, which measures the altcoin market's outperformance versus BTC on a scale of 0 to 100, cooled off to 41 on Friday from Monday's 59, the strongest reading since the late January speculative frenzy around President Trump's inauguration. Still, the total altcoin market (except stablecoins) saw a rapid appreciation, nearly doubling in value since April, David Duong, head of research at Coinbase, said in a Friday report. For this week's pullback, traders taking on excessive leverage on altcoin bets were to blame, the report pointed out. The Altcoin Open-Interest Dominance metric, which compares the amount of dollars tied up in altcoin derivatives contracts to bitcoin's, soared to 1.6, a level that has preceded previous market shake-outs, the report noted. A decrease in the ratio would suggest a healthy leverage reset for the altcoin market, otherwise more shakeouts are expected, Duong wrote. For an extended altcoin season, investors should keep an eye on the Bitcoin Dominance, which measures BTC's share of the total crypto market capitalization. The metric has broken below the 200-day moving average for the first time since a brief period in January 2025, the report noted. "A sustained move under the 200-DMA could validate the 'alt season' narrative and have historically preceded multi-week stretches of altcoin outperformance (like in 2021)," Duong wrote. However, traders might be better off waiting for more consecutive sessions closing below the level before piling into altcoin bets for a more "prudent positioning," he added.
Yahoo
6 days ago
- Business
- Yahoo
XRP Drops 19% From Highs as $113M in Longs Liquidated
XRP (XRP-USD) plunged 19% from eight-year highs this week as a wave of liquidations rattled crypto markets, though analysts say the selloff is a healthy correction not a red flag. Warning! GuruFocus has detected 3 Warning Signs with NIO. The token dropped to $2.95 on Thursday after reaching a multi-year peak of $3.66, losing 12.5% in 24 hours. XRP long positions worth $113.6 million were liquidated, according to CoinGlass, including $106.8 million in longs. The broader crypto market also dipped 3% to $3.79 trillion, with total liquidations nearing $1 billion. The pullback followed weeks of overbought momentum. On the weekly chart, XRP's relative strength index dropped from 71 to 61, while the daily RSI fell to 56 after peaking at 88. Analysts say the correction could open the door to a more sustainable rally if the $3 support level also the 100-period simple moving average holds. This is a healthy shakeout, said market analyst XRPunkie. The $10$15 target remains on the table. Other analysts said the retreat is part of a broader cooldown after leverage overheated across altcoin markets. Market watchers are now eyeing $2.60 as the next key support if bulls fail to hold the line. This article first appeared on GuruFocus.
Yahoo
6 days ago
- Business
- Yahoo
XRP Drops 19% From Highs as $113M in Longs Liquidated
XRP (XRP-USD) plunged 19% from eight-year highs this week as a wave of liquidations rattled crypto markets, though analysts say the selloff is a healthy correction not a red flag. Warning! GuruFocus has detected 3 Warning Signs with NIO. The token dropped to $2.95 on Thursday after reaching a multi-year peak of $3.66, losing 12.5% in 24 hours. XRP long positions worth $113.6 million were liquidated, according to CoinGlass, including $106.8 million in longs. The broader crypto market also dipped 3% to $3.79 trillion, with total liquidations nearing $1 billion. The pullback followed weeks of overbought momentum. On the weekly chart, XRP's relative strength index dropped from 71 to 61, while the daily RSI fell to 56 after peaking at 88. Analysts say the correction could open the door to a more sustainable rally if the $3 support level also the 100-period simple moving average holds. This is a healthy shakeout, said market analyst XRPunkie. The $10$15 target remains on the table. Other analysts said the retreat is part of a broader cooldown after leverage overheated across altcoin markets. Market watchers are now eyeing $2.60 as the next key support if bulls fail to hold the line. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
Ether, XRP Traders Book Bigger Losses Than Bitcoin as Crypto Bulls See $630M in Liquidations
A sharp pullback across crypto markets on Tuesday triggered nearly $735 million in liquidations with bulls bearing the brunt. Ether (ETH) and XRP (XRP) tracked futures bets booked larger losses than bitcoin in an unusual move, indicative of the higher interest toward altcoin traders in the past week. CoinGlass data shows ETH traders lost $152.78 million, the largest for any asset, followed by $88.58 million in liquidations for XRP. Bitcoin (BTC) came in third at $65.29 million, despite its larger market cap and deeper liquidity. While price action across the majors was mostly down by only a few percentage points, the high leverage used by retail traders in altcoins likely amplified their losses. In total, $625.5 million of the liquidations were on long positions, suggesting the selloff caught many bulls off guard after weeks of upward momentum. Other heavily hit tokens included Solana's SOL at $41 million, dogecoin (DOGE) at $40 million, and smaller DeFi tokens like SPK and PUMP seeing over $10 million in positions wiped. The absence of a clear catalyst and profit-taking near key resistance levels may have exacerbated the selloff. Ether had recently flirted with the $4,000 mark while Bitcoin traded above $118,000 — levels that had already prompted profit booking from larger wallets. As of writing, ETH is down roughly 3.6% on the day to trade near $3,540, while XRP fell 6% to $3.25, extending its weekly loss to over 12%. Bitcoin fared better, slipping just under 2% to hover around $116,800. Crypto liquidations occur when leveraged positions are forcibly closed due to a price move beyond a trader's margin threshold. This typically results in major losses and can trigger cascade effects during volatile moves. Traders use liquidation data to gauge market sentiment and positioning. Large long liquidations often signal panic bottoms, while short liquidations may precede a squeeze. Spikes in liquidations also help identify overcrowded trades and potential reversals. When paired with open interest and funding rate data, liquidation metrics can offer strategic entry or exit points, especially in overleveraged markets prone to sudden flushes or rallies. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-07-2025
- Business
- Yahoo
Ether, XRP Traders Book Bigger Losses Than Bitcoin as Crypto Bulls See $630M in Liquidations
A sharp pullback across crypto markets on Tuesday triggered nearly $735 million in liquidations with bulls bearing the brunt. Ether (ETH) and XRP (XRP) tracked futures bets booked larger losses than bitcoin in an unusual move, indicative of the higher interest toward altcoin traders in the past week. CoinGlass data shows ETH traders lost $152.78 million, the largest for any asset, followed by $88.58 million in liquidations for XRP. Bitcoin (BTC) came in third at $65.29 million, despite its larger market cap and deeper liquidity. While price action across the majors was mostly down by only a few percentage points, the high leverage used by retail traders in altcoins likely amplified their losses. In total, $625.5 million of the liquidations were on long positions, suggesting the selloff caught many bulls off guard after weeks of upward momentum. Other heavily hit tokens included Solana's SOL at $41 million, dogecoin (DOGE) at $40 million, and smaller DeFi tokens like SPK and PUMP seeing over $10 million in positions wiped. The absence of a clear catalyst and profit-taking near key resistance levels may have exacerbated the selloff. Ether had recently flirted with the $4,000 mark while Bitcoin traded above $118,000 — levels that had already prompted profit booking from larger wallets. As of writing, ETH is down roughly 3.6% on the day to trade near $3,540, while XRP fell 6% to $3.25, extending its weekly loss to over 12%. Bitcoin fared better, slipping just under 2% to hover around $116,800. Crypto liquidations occur when leveraged positions are forcibly closed due to a price move beyond a trader's margin threshold. This typically results in major losses and can trigger cascade effects during volatile moves. Traders use liquidation data to gauge market sentiment and positioning. Large long liquidations often signal panic bottoms, while short liquidations may precede a squeeze. Spikes in liquidations also help identify overcrowded trades and potential reversals. When paired with open interest and funding rate data, liquidation metrics can offer strategic entry or exit points, especially in overleveraged markets prone to sudden flushes or rallies. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
