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The Reasons Behind Today’s Crypto Market Selloff: BTC, ETH, SOL, XRP, and LUNC
The crypto market saw $250 million liquidation on Friday’s expiry, first after the spot Bitcoin ETFs trades. ETH, XRP, and LUNC under pressure.

On Friday, a widespread selloff in the cryptocurrency market led to a nearly 4% decline in the global market cap, bringing it down to $1.61 trillion. Traders and investors bore the brunt of Friday’s expiry, with approximately $250 million liquidated in the last 24 hours. The fear and greed index for cryptocurrencies dipped from 63 to 56, indicating a shift to a neutral sentiment.

The price of Bitcoin experienced a sharp drop from $42,720 to a low of $40,631 within a short period, resulting in an overall daily loss of around 4%. Leading altcoins such as Cardano (ADA), Solana (SOL), XRP, and Ethereum (ETH) also saw notable declines ranging from 3% to 7% within hours.

In the aftermath of the recent proposals’ failure, the LUNC price plummeted by 9% over the last day, currently trading at $0.000113. It is important for market participants to stay informed about these fluctuations, as cryptocurrency prices can be highly volatile and subject to rapid changes.

Crypto Market Selloff on Friday’s Expiry
Traders anticipated a major liquidation after the spot Bitcoin ETFs listings, which kept the crypto market stagnant throughout the week.

Notably, 22,000 BTC options of notional value $890 million are set to expire on January 19, with a put-call ratio of 1.1. The max pain point is $44,000, indicating that traders are under selling pressure. BTC price fell 4%, with the price currently trading at $41,419.

Moreover, 211,000 ETH options of notional value $520 million are set to expire, with a put call ratio of 0.55. The max pain point is $2,500, which is also higher than the current price of $2,469. ETH price is down 3% in the last 24 hours, with a 24-hour low of $2,426.

Crypto Market Saw $250 Million Liquidation
Crypto rollercoaster alert! Coinglass spills the tea: $250 million liquidated today. 103K traders took a dip, with Binance’s BTCUSDT leading at $7.31 million. The crypto market is rocking the “red” look. Fasten your seatbelts, it’s a wild ride!
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