As Bitcoin Swings Wildly with $1B Liquidations, Will Ethereum Maintain Its Resilience?

Bitcoin’s meteoric rise to $100,000 took a dramatic turn in the past 24 hours, unleashing a wave of volatility that rattled the entire cryptocurrency market. A sudden flash crash sent Bitcoin’s price tumbling to $90,000 before a partial recovery to $97,000. This price swing triggered a staggering $1 billion in liquidations, marking one of the largest market wipeouts since 2022.

According to Coinglass, nearly $900 million in Bitcoin positions were liquidated, impacting over 156,000 traders worldwide. Despite the chaos, some whales capitalized on the dip, with one accumulating 600 BTC worth $58.85 million during the price drop. This opportunistic buying underscores the enduring appeal of Bitcoin, even during volatile corrections. While a debate whether this marks a short-term bottom or a more extended setback, attention has turned to Bitcoin’s ability to sustain its historic rally.

The shockwaves from Bitcoin’s plunge also resonated across the broader crypto market, testing Ethereum’s resilience. As traders navigate these choppy waters, questions loom about Ethereum’s ability to weather the storm and maintain its stability amidst the turbulence.

Bitcoin Rallies 41% in a Month, Targets $103,000 Resistance Level

Bitcoin’s price has surged 41% over the past month, currently oscillating between $92,202 and $100,356. Despite recent volatility that triggered over $1 billion in liquidations, Bitcoin maintains strong upward momentum, with the nearest resistance level at $103,686. Breaking past this milestone could set the stage for a further climb to $111,841, potentially delivering a 10% gain.

The technical indicators present a mixed picture of market sentiment. Oscillators suggest neutrality, with the Relative Strength Index (RSI) at 64.40 and the Stochastic %K at 64.09. Momentum (10) signals a buy at 6,294.16, while the MACD Level (12, 26) indicates a sell at 4,028.76. This blend of signals reflects potential indecision among traders.

However, moving averages indicate strong bullish momentum. The 10-day EMA stands at $96,708.20, while the 200-day EMA is significantly lower at $69,874.34, reinforcing an upward trajectory. These trends suggest Bitcoin remains well-positioned to recover from recent volatility and continue its rally.

Market participants should also consider external factors influencing Bitcoin’s performance, such as profit-taking at all-time highs, whale activity, and speculative rumors surrounding governmental Bitcoin sales. Despite these headwinds, whales have been accumulating, signaling confidence in Bitcoin’s long-term fundamentals.

With Bitcoin’s ability to hold above key levels like $97,000 and potential to test the $103,000 resistance, traders remain optimistic about its trajectory. For those looking to capitalize on the ongoing rally, Bitcoin is available on platforms like ChangeNOW with no registration or hidden fees.

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Ethereum Shows Strong Momentum as Bulls Eye Higher Levels

Ethereum is trading near $3,800, boasting a remarkable 60% price increase over the past month. Technical indicators suggest a continuation of upward momentum. The 10-day simple moving average (SMA) is $3,888, slightly above the 100-day SMA of $3,738, reinforcing the bullish trend.

The Relative Strength Index (RSI) hovers around 51, indicating neutral market conditions, while the Stochastic Oscillator, at approximately 77, reflects bullish sentiment. Ethereum faces immediate resistance at $4,068, and a breakthrough could propel it to $4,563, representing a potential gain of over 17%.

Despite broader market turbulence, Ethereum has shown resilience, maintaining steady growth even as Bitcoin experiences heightened volatility. This stability positions Ethereum as a strong contender for further price increases, particularly as confidence in the broader cryptocurrency market recovers.

For investors seeking to participate in Ethereum’s ongoing rally, platforms like ChangeNOW offer convenient access with no registration or hidden fees, making it easier to capitalize on favorable market conditions.

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Conclusion

Bitcoin’s recent dramatic price movements, leading to over $1 billion in liquidations, offer traders significant opportunities for profit while highlighting inherent market risks. In contrast, Ethereum’s stability during this period underscores its appeal to investors seeking consistent performance and the advantages of its robust platform. Each cryptocurrency presents unique prospects: Bitcoin with its market influence and potential for rapid gains, Ethereum with its resilience and foundational technology. For those looking to invest or trade in these coins, ChangeNOW offers an excellent platform. It enables users to exchange, buy, or sell cryptocurrencies without hidden fees or the need for registration, enhancing security by not storing user funds. With support for over 900 cryptocurrencies, no limits on transaction volumes, and the option to purchase crypto using a bank card, ChangeNOW ensures a straightforward and secure experience.

Additionally, ChangeNOW’s NOWPayments allow businesses to integrate cryptocurrency payments effortlessly. By adopting these solutions, companies can attract customers interested in crypto, streamline their payment processes, and establish immediate transaction points. Whether an investor, trader, or business owner dealing with the shifts in Bitcoin and Ethereum markets, ChangeNOW combines convenience, efficiency, and profitability to meet a variety of crypto needs.

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.