The post Bitcoin Liquidations Decrease Amid Market Volatility; XRP and Dogecoin Traders Face Uncertainty appeared on BitcoinEthereumNews.com.

The cryptocurrency market has witnessed a significant shift in volatility, as evidenced by recent liquidation statistics that highlight a stabilization trend. In contrast to earlier weeks, where liquidations soared beyond $1 billion, current figures indicate a more measured $240 million, suggesting a possible easing of market tensions. According to a recent analysis from CoinGlass, Bitcoin’s liquidation led the market, totaling approximately $64.92 million, some $44 million attributed to long traders who were caught off-guard by the price drop. This article discusses the recent stabilization in crypto-market volatility with a focus on key liquidations affecting Bitcoin, XRP, and Dogecoin, offering insights into future trends. Bitcoin, Dogecoin, and XRP Spotlight: Liquidation Insights Recent data sheds light on the sharp downturn in Bitcoin prices, which fell into the $94,000 range. Long traders faced substantial losses, with total liquidations reported at $64.92 million. Notably, the losses for BTC long traders alone totaled about $44 million, while short trader liquidations accounted for approximately $20.92 million. In the same timeframe, XRP recorded a more modest $6.57 million in liquidations, illustrating a different impact on its trader landscape. Here, short traders absorbed around $3.65 million of losses, while long traders were primarily affected by the downward trend. Interestingly, despite these challenges, XRP has shown remarkable resilience with a notable 253% gain over the past month, driven by a surge in wallet activity. The liquidity landscape for Dogecoin displays an almost even split in trader liquidations amounting to $9.2 million, revealing a market caught in uncertainty. This uncertainty stems from Dogecoin’s extensive volatility record, leaving traders questioning the coin’s future trajectory. Where is the Market Heading Next? Analyzing Bitcoin’s Consolidation Phase In light of the reduced volatility, Bitcoin’s price action appears to have entered into a consolidation phase, seemingly resistant to the traditional “Santa Rally.” As of the…

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Filed under: News - @ December 24, 2024 11:21 am