You can also read this news on COINTURK NEWS: Cryptocurrency Market Faces Challenges During Market Correction

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On the evening of July 23rd, the cryptocurrency market encountered a notable downturn. Ethereum experienced a 4% decrease over the past 24 hours, settling at $3,565, while XRP witnessed a more significant decline of 12.7%, falling to $3.05. BNB and Solana also faced setbacks, dropping by 5.3% and 9.5%, respectively. In contrast, Bitcoin demonstrated relative stability, decreasing by only 0.6% to $117,349, showcasing resilience compared to other leading cryptocurrencies.

7月23日晚上，加密货币市场遇到了一个显着的衰退。在过去的24小时内，以太坊的下降了4％，定价为3,565美元，而XRP的下降幅度更高12.7％，降至3.05美元。 BNB和Solana也面临挫折，分别下降了5.3％和9.5％。相比之下，比特币表现出相对稳定性，与其他领先的加密货币相比，比特币仅降低0.6％至117,349美元。

What's Driving Crypto Declines?

是什么驱动加密货币降低了？

Presto Research analyst Min Jung suggested that the downturn lacked a distinct catalyst, stating, "Ethereum is still up 7% weekly, and Dogecoin is up 12%. This pullback seems like profit-taking." CoinW's Chief Strategy Officer, Nassar Al Achkar, concurred, emphasizing that short-term profit-taking, leveraged position liquidations, and altcoin rotation ahead of impending ETF decisions have collectively amplified market pressures.

Presto研究分析师Min Jung建议，下滑缺乏独特的催化剂，他说：“以太坊每周增长7％，而Dogecoin上涨了12％。这种回调似乎是利润的。” Coinw的首席战略官Nassar Al Achkar同意，他强调，在即将到来的ETF决策之前，短期利润，杠杆位置清算和Altcoin轮换已统称为市场压力。

Jung clarified that the underlying market fundamentals remain robust, supported by ongoing substantial institutional treasury acquisitions. Experts also highlighted that investors are keenly observing earnings reports from major technology corporations and macroeconomic data for additional market insights.

Jung澄清说，基本的市场基本面仍然具有强大的稳健性，并得到了持续的大量机构财政收购的支持。专家还强调，投资者敏锐地观察了主要技术公司的收益报告和宏观经济数据，以获得其他市场见解。

Impact of Liquidation Pressure and Market Liquidity

清算压力和市场流动性的影响

Vincent Liu, CIO of Kronos Research, attributed the market decline to chain liquidations and reduced market depth, further explaining that heavily leveraged long positions in vulnerable altcoins have been unwound.

Kronos Research CIO的Vincent Liu将市场下降归因于连锁清算并减少了市场深度，进一步解释说，在脆弱的山寨币中占据了很大的长期位置。

Coinglass data indicates that $940.81 million in positions were liquidated in the preceding 24 hours, including $168 million in Ethereum and $92.7 million in XRP long positions. Bitcoin experienced $73.5 million in liquidations, with $57.4 million originating from long positions.

Coinglass数据表明，在前24小时内清算了9.4081亿美元的位置，包括1.68亿美元的以太坊和9270万美元的XRP长位。比特币经历了7350万美元的清算，其中5740万美元起源于长位置。

Liquidations in the Cryptocurrency Market

加密货币市场的清算

LVRG Research director Nick Ruck observed that with declining retail interest, altcoins remain vulnerable. Investors are closely monitoring geopolitical developments, institutional ETF entries, and crucial technical support thresholds. Analysts propose that the market's price fluctuations, combined with the need for a consolidation period, have contributed to increased short-term volatility.

LVRG研究总监Nick Ruck观察到，随着零售利益的下降，Altcoins仍然脆弱。投资者正在密切监视地缘政治发展，机构ETF条目和重要的技术支持门槛。分析师建议市场的价格波动，加上合并期的需求，导致了短期波动的增加。

The post Cryptocurrency Market Faces Challenges During Market Correction appeared first on COINTURK NEWS.

Cointurk News首先出现了在市场更正期间的加密货币市场面临挑战。