sell
Bitcoin Dives to Weekly Lows as Market Sentiment Weakens
The bitcoin rate hit new weekly lows. On May 30th, Bitcoin (BTC) fell below $105,000, dropping to $104,600, marking its lowest level since May 20th. Over the last 24 hours, the price of the leading cryptocurrency declined by approximately 2.5%, and it is currently trading around $105,000. BTC's market capitalization stands at $2.1 trillion, accounting for 64% of the market. Altcoins also experienced declines; Ethereum (ETH) decreased by 3.8% to $2,620. Other top 10 cryptocurrencies reflected similar volatility: Dogecoin (DOGE) down 9%, Cardano (ADA) down 6.5%, Solana (SOL) down 5%. The total crypto market capitalization shrank by 2.9%, totaling $3.32 trillion. As a result, 204,000 trader positions worth approximately $685 million were liquidated, indicating a waning interest in risk assets amidst falling prices. The fear and greed index dropped to 60, suggesting traders are becoming less greedy.
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AI Analysis
The recent decline in Bitcoin and other cryptocurrencies highlights the ongoing volatility and investor caution in the crypto market. The fall below $105,000 for Bitcoin indicates a short-term correct...
AI Recommendation
Given the recent volatility and liquidation activity, investors should exercise caution and consider reducing exposure to highly volatile cryptocurrencies unless they are prepared for significant shor...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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weak buy