Cryptocurrencies such as Bitcoin have fallen sharply, and the loss cut is the largest this year

1 year ago 75

Macroeconomics and financial markets

In the US NY stock market on the 19th, the Dow Jones Industrial Average fell 79 dollars (0.2%) from the previous day, and the Nasdaq Index closed 3 points (0.03%) higher.

The consumer price index (CPI) in the UK was 10% compared to the same month last year, and the observation of high inflation, which exceeded market expectations, weighed on the market.

connection:U.S. stocks flat, risk-off moves in response to high inflation in the U.K. | 20th Financial Tankan

connection:Stock investment recommended for cryptocurrency investors, representative cryptocurrency stocks of Japan and the United States “10 selections”

Virtual currency market

In the crypto asset (virtual currency) market, Bitcoin fell 5.42% from the previous day to $28,614.

BTC/USD daily

The top price was heavy before the thick resistance line (upper resistance line) in the lower $30,000 range.

Among the major altcoins, Ethereum (ETH) fell 8.01% from the previous day, XRP fell 6.77%, and Solana (SOL) fell 8.41%.

The largest loss cut (forced liquidation) of the year occurred in the derivative market of crypto assets (virtual currency). $262 million worth of long positions were cut in the last 24 hours.

coin glasses

Some believe that a 16,000 BTC (approximately 500 billion yen) physical sell order on Binance triggered a chain of declines.

$BTC Spot CVDs
16K BTC sold at market from binance spot
Other spot exchanges had pretty typical size being sold

Interesting selloff here pic.twitter.com/9SmirkSM7b

— Skew Δ (@52kskew) April 19, 2023

The actions of US regulatory authorities are also increasing uncertainty about the future of the crypto asset (virtual currency) market.

The U.S. Commodity Futures Trading Commission (CFTC) sued Binance for offering unregistered derivatives products to U.S. customers, and the U.S. SEC (Securities and Exchange Commission) filed a lawsuit against the largest U.S. exchange Coinbase. Issue a notice (warning letter). It sued Kraken, forcing it to suspend its staking service.

In the lawsuit filed against cryptocurrency exchange Bittrex, the lawsuit cited the reasons why six stocks, including Algorand (ALGO), Dash (DASH) and OMG (OMG), are classified as securities.

connection:US SEC sues cryptocurrency exchange Bittrex, claiming securitization of 6 stocks

In addition, one of the reasons for the worsening investor sentiment is the spread of information that digital wallets have been hacked for unknown reasons. Taylor Monahan, founder of the Ethereum wallet manager “MyCrypto”, has warned that there have been intermittent and unexplained unauthorized outflows since December 2010.

More than 5,000 ETH of crypto assets and NFTs (non-fungible tokens) are believed to have been illegally leaked on multiple blockchains compatible with the Ethereum Virtual Machine (EVM). There are concerns that many damages have been reported, including so-called cryptonatives, rather than phishing scams targeting people with low financial literacy.

On the other hand, MetaMask denied this point, saying, “It is not a MetaMask-specific exploit (a malicious program that uses vulnerabilities or security flaws).” The security team said it was investigating to determine the cause.

Recent reporting on @tayvano_‘s thread has incorrectly claimed that a massive wallet draining operation is a result of a MetaMask exploit.

This is incorrect. This is not a MetaMask-specific exploit. https://t.co/MiJ3QgslMy

— MetaMask (@MetaMask) April 18, 2023