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If there is one word that can define Bitcoin (BTC) in recent weeks, it is “indecision”. The reason is that the price is unable to consolidate above $27,000 and try new valuations. The cryptocurrency opened in fall again this Wednesday (24).

According to the website CoinGecko, the price of Bitcoin has dropped by 2.2% in the last 24 hours after surpassing $27,000. With the new drop, BTC dropped to US$ 26,795, which is about R$ 132,800 in national values.

Who also opened the day down 2.2% was Ether (ETH). But unlike Bitcoin, ETH managed to hold the support – $1,800. One ETH is worth US$1,813 at the time of writing, or around R$9,000.

Within the Top 10, Dogecoin (DOGE) recorded the biggest losses and is down 2.8% – and again, thanks to Elon Musk. The CEO of Tesla and owner of Twitter warned that despite having DOGE, there are risks in investing in the memecoin, which caused the price to collapse.

Only stablecoins USDT and USDC opened the day higher, rising 0.1%. Because of this poor performance, the market cap of cryptocurrencies fell by 1.7% and reached US$ 1.16 trillion (RS 5.8 trillion), with a volume of US$ 32.7 billion (R$ 162.8 trillion). billion). BTC and ETH dominance dropped to 44.4% and 18.7% respectively, totaling 63.1%.

PEPE falls and SUI leads the losses

The top 100 newcomer tokens were again among the biggest losers in the market. Although not among the five biggest devaluations, Pepecoin (PEPE) fell 6% and again reinforced that the memecoin cycle is nearing its end.

In addition, Musk’s speech about DOGE affected the other meme tokens in the market, which fell sharply. Shiba Inu (SHIB) lost 4.2%, but the biggest drop hit unknown FarmerDoge (CROP), which was down 35.6%.

On the other hand, the SUI token dropped 9% and posted the biggest losses, followed by the GMX token which dropped 7.3%. The FTM lost 7% and the INJ fell 6.8%, while the Lido DAO token (LDO) closed the losses with a 6.4% devaluation.

In the field of higher valuations, the gains were much more moderate: the highest increase was only 4.8% in the last 24 hours, achieved by SNX. Next came MIOTA, up 2.7%, KAVA (1.7%), KCS (1.4%) and XAUT, up 1%.

Futures and Settlements

Futures volumes dropped 6.48% in the last 24 hours, according to the Coinglass website, and moved a total of $59.8 billion. Binance remained in the lead, but saw its volume drop to $11.9 billion, with Bitget closing in on second place ($3.76 billion).

Liquidations, on the other hand, grew due to the fall in the market and reached US$ 66.4 million, an increase of 19.44%. FTM recorded the highest liquidation at $751k, followed by ETH at $226k.

Liquidations reached 29,865 traders in the last 24 hours, with $56 million in long positions and $10 million in short positions. An ETH/USDT contract traded on OKX recorded the highest single settlement at $2.19 million.

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