U.TODAY – U.TODAY presents the three main cryptographic news for the past day.
A liquidation imbalance of 3,750 % stuns the bulls
XRP perpetual term contracts have demonstrated unusual negotiation patterns due to a significant difference of 3,750 % between long and short positions. Coinglass data reveal that more than 97 % of $ 500,000 in XRP -term contracts liquidated in one hour on Wednesday January 22 came from long positions, with only $ 14,000 related to short positions. The appearance of this large difference coincided with a drop of only 1.5 % of the price of the XRP. Previous gains of 2.3 % of the value of the assets had strengthened the confidence of the traders, leading them to take long aggressive positions. But a sudden change in value has resulted in a series of liquidations. A similar trend has been observed across the entire cryptography market, with total liquidations reaching $ 79.28 million, mainly from long positions ($ 53.25 million). For XRP, the notable imbalance indicates a high level of excessive confidence in the market and a dependence on trading based on the momentum.
Whales are gaining momentum while ETF attract nearly $ 250 million in entries
According to Santiment, Bitcoin has an increase in the activity of whales, which has historically contributed to the bullish cycles of the market. The number of portfolios containing between 100 and 1,000 BTC has reached a record level, with 15,777 wallets now reported. Santiment considers this increase in whale activity as a potentially positive indicator for future Bitcoin performance. On January 20, Bitcoin reached a record price of $ 108,786, but he has since faced a correction of 6 %. At the same time, recent data indicates that various ETF Bitcoin attracted 248 million dollars in net flows on Wednesday January 22, which suggests strong institutional demand despite the disappointing action of BTC prices. According to QCP, the market should remain “in a range” until the FED decisions in terms of interest rate are clearer, while Bitcoin is struggling to find a bullish momentum in a context of bellicist position of the Fed and decrease in the chances of severe drops in rates in 2025.
The deposit of an ETF arouses the surprise while Doge falls to $ 0.3,500
Yesterday, he became known that Bitwise had submitted a recording file for an ETF Dogecoin, following the deposits of certain ETF Crypto, including one for Doge, by investment companies Rex Shares and Osprey Funds. However, despite the positive expectations of the market generally associated with ETF announcements, the news has not increased the price of Dogecoin; Instead, he fell 5 %, to the surprise of many investors. The “Bitwise Dogecoin ETF” was recorded with the State Department of Delaware as a preparatory stage before an official proposal to the dry could be made. If this product wins even a small part of the entries observed in the Bitcoin ETF, this could potentially increase the Dogecoin value. Currently, Dogecoin ranks seventh in cryptocurrency, with a market capitalization of $ 53.5 billion. At the time of the editorial staff, DOGE is negotiated at $ 0.3622; Its price has more than tripled during the past year, benefiting from the performance of Bitcoin and recent developments related to the creation of the Department of Government Efficiency (DOGE) in the United States.
