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Price analysis 1/11: BTC, ETH, XRP, LTC, BCH, ADA, DOT, LINK, BNB, XLM

Published 01/11/2021, 04:05 PM
Updated 01/11/2021, 06:40 PM
Price analysis 1/11: BTC, ETH, XRP, LTC, BCH, ADA, DOT, LINK, BNB, XLM

After an incredible run-up to nearly $42,000, Bitcoin (BTC) price finally entered a significant correction, and at the time of writing the price is down by about 18%. While the swift drop to $30,402 may not induce sleepless nights from the HODLer crowd, large drops like the one seen over the past 24-hours can easily blow up a leveraged trader's portfolio. The sharp downside move also threatens to wipe out a large portion of the gains accrued over the past few weeks.

Data from Bybt indicates that over $2.7 billion worth of futures contracts has been squared off in the past 24 hours.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
LTC/USDT daily chart. Source: TradingView
BCH/USD daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
LINK/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XLM/USDT daily chart. Source: TradingView

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