The crypto market experienced significant turmoil with $19B-$20B in liquidations, prompting Crypto.com's CEO to call for regulatory probes and Binance to promise compensation for system failures. Bitcoin (BTC) faces highly polarized predictions, ranging from a potential plunge to $75,000 to a major rally if key technical levels are breached. XRP has shown resilience despite a 50% price drop, with analysts eyeing potential 60% to $17-$20 upside, while Ethereum (ETH) sees substantial whale accumulation for a potential 'next leg up' amid warnings of a drop below $3,000.
Key Developments
- Crypto.com CEO urges regulators to probe exchanges following $19B-$20B in market liquidations.
- Binance pledges compensation for system failures during the recent crash, fueling speculation about the event's nature.
- Bitcoin (BTC) is at a critical juncture, with analysts divided on whether it will retest a golden cross for a rally or plunge to $75,000.
- XRP demonstrates resilience post-50% price drop, with significant inflows and analysts predicting potential 60% to $17-$20 upside.
- Ethereum (ETH) whales accumulate $480 million, signaling a potential 'next leg up,' despite some warnings of a drop below $3,000.
Next 6 Hour Outlook
The next 48 hours are anticipated to be crucial in determining the crypto market's short-term direction, with potential for either a rebound or further consolidation amidst ongoing volatility.