Bitcoin and Ethereum Stable as Top Coins Face Liquidations Amid Market Swings

The cryptocurrency market is witnessing notable movement today, as Bitcoin ($BTC) remains steady at $62,126 while Ethereum ($ETH) holds at $2,420. The overall market cap is $2.16T, and the total volume within 24 hours has hit $63.99B. Furthermore, the Fear and Greed index is still at 51, which means it is Neutral. Phoenix, a crypto analytical firm, shared the stats through its official X account.

Daily Summary on October 5, 2024$POPCAT $TAO $WLD $W $WIF $BTC $ETH $SUI $SOL $PEPE#dailysummary #DeFi #Crypto pic.twitter.com/rOLXJihz7u

— PHOENIX – Crypto News & Analytics (@pnxgrp) October 5, 2024

Bitcoin ($BTC) and Ethereum ($ETH) Prices Seem Stable

Market Report Bitcoin ($BTC) held the largest market share, up to 56.8%, and Ethereum ($ETH) had a market share of 13.5%. The total DeFi TVL is estimated at $132.73B, which again demonstrates the communities’ trust in decentralized finance. Gas fees for ETH transactions are low at 4 GWEI, making the network more affordable for users.

Price Bounce and Dip Movements have observed interesting price fluctuations across various coins. POPCAT saw a -4.16 % DIP and a 25% price bounce, while TAO experienced a sharp dip of 10.50%. Other cryptocurrencies like WLD and WIF recorded milder price movements of 4.32% and 7.75%, respectively. These patterns suggest a continued dynamic trading environment across multiple coins.

Top Coins Face Liquidations Amid Market Swings

Top Liquidations in 24 Hours In terms of liquidations, $BTC tops the list, with a staggering $40.66M in positions. $WIF follows at $12.6M, and $ETH experienced $20.92M in liquidations. $SOL, $SUI, and $PEPE also saw liquidations of $6.21M, $3.89M, and $3.37M, respectively, indicating the market’s volatility.

The top liquidations highlight the volatility within the market. Ethereum led with substantial liquidations, illustrating traders’ responses to price shifts. This behavior underscores the necessity for traders to stay informed and agile.

Price Trends and Market Predictions

The current price bounce and dip trends suggest ongoing volatility, which may continue influencing trading decisions. Market analysts emphasize the importance of vigilance as trends emerge, shaping future price predictions.

The cryptocurrency market remains fluctuating. Traders and investors must navigate these changes carefully to capitalize on opportunities in a rapidly evolving landscape.

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