Bitcoin Rollercoaster Escalates, Millions in Liquidations, What's Next?

View in browser Bitcoin Rollercoaster Escalates, Millions in Liquidations, What's Next? Hey, everyone, and happy Tuesday! It's been a wild ride throughout the past few days in the cryptocurrency market.  Bitcoin's price tumbled below $100K and then recovered, followed by even more considerable turbulence throughout the altcoin field.  One interesting statistic, however, is that we are about to enter February. But even more than that, it's the February after the halving. What does this mean?  Well, the average gain for Bitcoin during February is 15.6%! Last year, for instance, BTC skyrocketed from $42,580 to $62,560, charting an increase of around 43.5%.  Price Action Total Mkt Cap: $3.65 Trillion | 24HR Liquidations: $239M | Sentiment: Greed  Thanking our Newsletter sponsor: Credefi: the ultimate RWA gateway. Connecting crypto lenders with SME borrowers since 2021. Discover predictable yields on your idle crypto assets. Bitcoin Recall the highly fluctuating price movements that bitcoin encountered last Monday when the asset plunged from $106,000 to under $100,000 in the morning, just to skyrocket by over nine grand in an hour or so to paint a new all-time high above $109,000. Once Trump's inauguration finished and he ignored crypto during his speech, BTC slumped once again but maintained the $100,000 level. It remained within six-digit territory by the end of the week and even jumped to $107,000 on Sunday. Monday, though, began with similar volatility as BTC slumped once again. This time, though, it fell below $100,000 and dropped to a multi-week low of under $98,000, leaving millions in liquidations. Nevertheless, the bulls stepped up once again and helped the asset recover a big portion of its losses. Earlier today, BTC jumped to $103,000, but it is closer to $102K. Its market cap has shot up to over $2 trillion, while its dominance over the alts is just shy of 56% on CG. Altcoins The alternative coins plunged a lot harder than BTC yesterday, and most have posted more impressive gains today. XRP leads the pack with a 10% surge that has pushed it to $3.1. Dogecoin, Cardano, Chainlink, Stellar, Sui, and Shiba Inu follow suit, with gains of up to 7%. Ethereum has neared $3,200 once again, SOL is close to $240, while BNB has tapped $675. The biggest gains come from JUP (21%), XDC (16%), HYPE (15%), and KCS (15%). The total crypto market cap has recovered $140 billion since yesterday and is up to $3.640 trillion on CG. Best Performers Movement (MOVE) +18.18% XDC Network (XDC) +16% Jupiter (JUP) +13.5% Worst Performers Virtuals Protocol (VIRTUAL) -6.6^ Worldcoin (WLD) -3.7% Artificial Superintelligence Alliance (FET) -4% The Crypto News You Can't Miss Brad Garlinghouse backs multichain U.S. asset reserve, calls Bitcoin maximalism "the enemy of crypto progress." Read the full story. Seychelles-based crypto exchange – KuCoin – has pleaded guilty to conducting an unlicensed money-transmitting business. As per the agreement, KuCoin faces monetary penalties of more than $297 million, which includes a forfeiture of $184.5 million and a fine of $112.9 million. Read the full story. Wall Street feared Monday that a flashy showing by a Chinese open-source AI startup meant the Internet won't need faster chips. Read the full story. Hackers exploited Dean Norris' X account for a crypto scam, photoshopping images and using Cameo clips to fuel credibility. Read the full story. Your Daily Crypto Did You Know Did you know that "Huntercoin," released in 2014, is considered the first-ever blockchain-based game? It allowed players to mine cryptocurrency through in-game activities, paving the way for future blockchain gaming innovations. CryptoPotato 39 Ludgate Hill, London United Kingdom You received this email because you signed up on our website or made purchase from us. Unsubscribe