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Ethereum Drops Below $2,800 As Crypto Liquidations near $1B – Should Investors Worry?
newsbtchace 13d

Ethereum Drops Below $2,800 As Crypto Liquidations near $1B – Should Investors Worry?

Ethereum (ETH) has retested its crucial $2,800 support level for the second time this week, as the broader crypto market erases all its intraweek gains. Some market observers have weighed in on whether investors should worry about King of Altcoin’s performance. Related Reading: Analysts Say Dogecoin Consolidation Is About To End – Parabolic Run Or Crash Ahead? Ethereum Plunges Amid Broader Market Crash On Thursday, global markets experienced a sharp decline, with stocks, cryptocurrencies, and even precious metals erasing over $3 trillion in market value in just a few hours. Ethereum, the second-largest cryptocurrency by market capitalization, followed the market-wide correction, retracing 6.9% in the daily timeframe. The cryptocurrency has been hovering between $2,800 and $3,300 since the start of the year and attempted to reclaim the upper zone of this range this month. Nonetheless, the recent geopolitical tensions and macroeconomic uncertainty have weakened the appetite for risk assets and halted the crypto market’s early January momentum. According to Binance market data, Ethereum fell below $2,800 on Thursday morning, briefly bouncing before reaching a one-month low of $2,773. Meanwhile, the leading cryptocurrency by market capitalization, Bitcoin (BTC), saw a sharp 6.2% decline, reaching a two-month low of $83,934. Data from CoinGlass shows that crypto liquidations over the past 24 hours surged to nearly $1 billion, with $917.17 million in leveraged positions forcibly closed at the time of writing. During this period, 223,915 traders were liquidated, and the largest single liquidation order happened on Hyperliquid, valued at $31.64 million. Notably, more than half of the liquidations occurred in the past four hours, wiping out over $620 million since the morning. Around $422 million came from Bitcoin positions, while $160 million came from Ethereum positions. ETH Price In ‘Endless Range’ Amid the market correction, some analysts shared their perspective on ETH’s price action. Sjuul from AltCryptoGems highlighted Ethereum’s price range in the daily chart, where the altcoin has hovered over the past two months. According to the analyst, there isn’t a clear trend as Ethereum continues to trade within its “seemingly endless range” between $2,600 and $3,350. He suggested that investors should wait for a proper breakout above the upper boundary or a breakdown from the range lows before celebrating or worrying. Similarly, trader EliZ affirmed that ETH’s macro perspective doesn’t show either real strength or weakness, but “an enormous, forced equilibrium” on the longer timeframes. He pointed out that ETH “continues to move within well-defined boxes, above and below the same levels for months/years, without ever building a directionality that can be described as structural.” Related Reading: Prediction Markets On BNB Chain Explode As Trading Volume Crosses $20B Based on this, the trader asserted that without a successful move and confirmation from its key range, short-term efforts don’t signal a “change of regime. Only liquidity rotation.” “We are not in a bullish phase, nor are we in a bearish phase. We are in a macro stalemate, where the market decides not to decide. Until we see a clean and sustained breakout of the indicated boxes ...or a net loss of the same ...any strong narrative is just storytelling,” he concluded. As of this writing, Ethereum is trading at $2,798, a 5.3% decline on the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

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Wearable tech adoption continues as privacy worries grow
helpnetsecurityhace 13d

Wearable tech adoption continues as privacy worries grow

Over 1 billion users wear devices for tracking steps, sleep, heart rate, and other personal metrics. These devices collect a continuous stream of sensitive data, often tied to detailed user profiles and companion apps. New Clutch survey data show that as wearables settle into daily life, questions about how that data is handled are influencing user confidence and purchasing decisions. Privacy concerns influence loyalty Survey results highlight an increase in consumer concern around data security ... More →The post Wearable tech adoption continues as privacy worries grow appeared first on Help Net Security.

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financialtimeshace 13d

The music industry’s cautious embrace of AI

Leading labels have signed deals with tech companies in the hope of creating new revenue streams and reducing the amount of slop. But artists are worried

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Smartphone upgrades are surging across Africa
independentughace 13d

Smartphone upgrades are surging across Africa

Africa’s mobile phone market is experiencing a surge as consumers in the continent’s biggest cities increasingly opting for higher-spec devices previously considered out of reach. SPECIAL REPORT | BIRD AGENCY | Africa is witnessing a mobile phone upgrade cycle moment. The obvious trend has been that of feature phones losing significant market share as millions ...The post Smartphone upgrades are surging across Africa appeared first on The Independent Uganda:.

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Experts weigh in on central bank’s decision to keep repo rate unchanged
sundayworldhace 13d

Experts weigh in on central bank’s decision to keep repo rate unchanged

Economists and consumer experts have revealed that the decision to keep the repo rate unchanged reflect a balance between improving economic conditions and persistent risks. While inflation is close to the 3% target and growth is expected to pick up this year, analysts warn that global uncertainty and rising administered costs mean policymakers are not [...]The post Experts weigh in on central bank’s decision to keep repo rate unchanged appeared first on Sunday World.

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