The crypto market on the edge of the abyss? $ 500 million liquidated in 24 hours

After weeks of bullish euphoria, the Crypto market has violently corrected, revealing an underlying tension too long ignored. In just 24 hours, more than $ 500 million in long positions were liquidated, taking Bitcoin, Ethereum and XRP in their fall. This brutal wave revealed the fragility of a lever -doped market, where technical indicators, relegated to the background by optimism, suddenly resume all their importance. A return to reality is essential for investors.

Serial liquidations: the market caught by the lever effect

While the Crypto market was doped by a drop -down ICC on the day of August 18, the latter collected a series of massive liquidations totaling more than $ 500 million in long positions, According to Coinglass.

This brutal correction, which has affected almost all major assets, was fueled by a combination of profits, excessive exposure to the lever and macroeconomic nervousness as I approach the highly anticipated discourse of Jackson Hole Jackson.

Here is key facts To remember on this day of strong volatility:

• More than $ 500 million liquidated in 24 hours, including $ 190 million on Ethereum, $ 120 million on Bitcoin, and $ 20 million on the XRP;

• The long ratio/shorts reaches 5: 1, revealing a dangerous biases;

• Bitcoin dropped to a floor of $ 114,706, before bouncing slightly around $ 116,000;

• The XRP temporarily broke its symbolic support of the $ 3, indicating increased sales pressure;

• The Bitcoin RSI is 47, in neutral zone;

• Bitcoin ADX is 21, which indicates the absence of a clear trend, with prices likely to evolve in a range;

• For the XRP, the ADX remains blocked under 25, suggesting a hesitant market and without directional confirmation.

These on-chain data draw the contours of a feverish market, where excess optimism begins to come up against areas of resistance. If the long -term structure remains intact for the moment, short -term indicators underline a loss of momentum and the growing difficulty in maintaining the levels reached during the recent rally.

Ethereum, the technical counterexample that intrigues analysts

While Bitcoin and XRP struggle to maintain their technical supports, Ethereum displays a more robust graphic structure, despite a marked correction. The second capitalization of the market recorded a fall of 3.3 %, sliding from $ 4,475 to $ 4,279, but retains encouraging indicators.

Its RSI rises to 61, which indicates that the buying pressure remains dominant despite the withdrawal. Better still, the Adx d'Ethereum culminates at 46, far beyond the 40 threshold which signals a strong trend. For analysts, this could confirm an upper bullish dynamic still intact.

This technical divergence is also visible on exponential mobile averages (EMA): EMA 50 of Ethereum remains far above its EMA 200, which gives a safety cushion to Haussiers investors, even in the event of prolonged correction.

In addition, the Squeeze Momentum indicator is currently ” disabled “reflecting an end of the extreme volatility phase and the potential entry into a controlled consolidation phase. On the feeling side, the predictive markets display moderate optimism. On the Myriad platform, 77 % of participants anticipate a new ATH for Ethereum by the end of this year, against 93 % the previous week. The euphoria is tempered, but confidence remains mainly upward.

This relative resilience of Ethereum in a globally lowering context could redefine certain short -term allocation strategies. While the crypto market seems to lose confidence in Bitcoin and XRP, Ethereum's attractiveness could be reinforced.