Analysis: Trade tensions escalate again, causing volatility in the crypto market, and investors' cautious sentiment increases
the cryptocurrency market experienced a significant decline this weekend, with Dogecoin falling by over 8%, PEPE by 12%, Bitcoin by over 2%, trading at just over $103,600. Ethereum fell by nearly 4%, Ripple (XRP), BNB Chain (BNB), ADA, and SOL all fell by 2-5%. Analysts believe that this economic downturn is related to the escalating trade tensions, and expect market volatility to continue. The derivatives market also indicates that investors' cautious sentiment is increasing, with data from Deribit showing a 51% increase in open Bitcoin futures contracts since April, and a staggering 126% increase in options contracts.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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