The post Brett Crypto Reaches Crucial Lows: Further 40% Drop Likely? appeared on BitcoinEthereumNews.com.

The Brett crypto price displayed bearish pressure at $0.16888 in response to BTC’s dip below $56000. The 4 continuous bearish candles highlight a drop of over 38%, as the price heads for the $0.07050 mark. BRETT1.D | Source: TradingView The market cap of BRETT plummeted by 21.99% in the past 24 hours to $1.087 Billion. Despite this, Brett was ranked the 59th largest crypto in terms of market cap on coinmarketcap. With the deterioration in price, the traded volume of the crypto increased by nearly 52.95%, which shows a negative sentiment toward the investors; bears could continue to dominate. Looking at the liquidity part, it has a decent low to moderate liquidity ratio at 6.53% in the last 24 hours. Also, the BRETT tokens that float in the market are 99.10% of the total supply of 9.91 Billion. What Do Derivatives Data Highlight About Brett (BRETT) Crypto? The open interest in crypto fell by 23% in the past 24 hours, and the long liquidation was higher than the short. Thus, the bearish pressure was high, reflecting more longs than shorts. The derivatives displayed that  $194.33K longs and $43.86K worth of shorts were liquidated in the market. Brett Crypto Derivatives Liquidation Chart | Source: Coinglass.com A huge surge in the derivatives trading volume of BRETT was recorded, which shows an increase in the crypto’s derivatives trading activity.  The derivatives data showed that the sellers dominated the price over the last couple of days, which was followed by massive profit booking in the long-term positions of traders and investors in BRETT. Brett Technical Analysis over the Daily Chart! The 4-H chart shows that bearish pressure has increased over the past 5 months, and from the peak, there was a nearly 39% consumption in its earlier gains. BRETT has been trading in a…

---

Filed under: News - @ July 5, 2024 4:22 pm