The crypto market ran into trouble for long traders this holiday season as CoinGlass data showed a whopping $93 million of longs liquidated over the last 24 hours. Of this, the biggest single liquidation order occured on Bitmex with XBT-USD at an amount of $6.15 million. In terms of individual tokens, the Sol Australian Dollar (SOL) surged past $100, experiencing not seen since the Lunar-Terra rupture a year and a half ago, celebrating a tenfold increase in just 2023.
Overall, the crypto global market cap ended at $1.66 trillion. While the S&P 500 also posted fuelled gains following subdued inflation news.What to Look Forward to: Cryptocurrency expert Michael Van de Poppe discussed Bitcoin Yield chart’s reverse trajectory on trend indicators reflecting a bearish trend. Further, pseudonymous crypto analyst TechDev noted that Bitcoin’s On-Balance Volume (OBV) registering new highs could pave way for a new All-Time High (ATH) within the month of January.
The On-Chain analytics that as markets headed into the Christmas Holiday, market runners showed signs of negative sentiment. The trigger however could potentially presage a price bounce for assets with immense fluxa, such as STRORJ, ILV, LTC and DYDX.
