Cryptocurrency Market Heals Its Wounds: Bitcoin and Altcoins Show Signs of Recovery
The cryptocurrency market, which experienced a sharp decline after Donald Trump announced on Friday that he would increase tariffs on China to 100%, showed a strong recovery today.
According to Binance data, Ethereum (ETH) rose 4.57% in the last 24 hours, rising above $4,000 again. Binance Coin (BNB) rose 11.72% to $1,266. PancakeSwap (CAKE) is up 18.45% at $3.27, and Aster (ASTER) is up 15.37% at $1.50.
Bitcoin price has increased by 1.70% in the last hour and is trading above $113,000.
In another indicator of market momentum, Solana (SOL) also rose by 7.04% to 190.14 USDT.
With Ethereum surpassing $4,000, the total size of short liquidations on major exchanges has reached $221 million. Conversely, if the price of ETH falls below $3,900, long liquidations are expected to reach $185 million.
Additionally, according to on-chain data, a whale with the address 0xb9f…6d365 deposited 9.5 million USDC on the Hyperliquid exchange today, opening a long position with 25x leverage. The investor took a position worth 18,960.93 ETH (approximately $70.76 million). The entry price was $3,717.76, and the liquidation level was $3,282.87. This position currently represents a profit of $5.75 million.
