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I noticed that Bitcoin took a hit this weekend, dropping to around 74K after an impressive rally. The btc.d data shows a clear dominance of Bitcoin in market movements. All of this started when geopolitical news hit — a 48-hour ultimatum that really shook traders' confidence.
What struck me was the scale of liquidations. We're talking about nearly $300 million liquidated in 24 hours, with about 85% of long positions closed. Bitcoin alone lost $122 million, Ether $95.7 million. A major exchange saw a single liquidation of $10 million in BTC-USDT. That's heavy.
All altcoins followed the trend — Ether retreated to 2.32K (-2.97% in 24 hours), XRP to 1.35, Solana to 83, Dogecoin to 0.09. Only Ether maintained a slight weekly gain (+2.84%), the rest were in the red. The market was too exposed to bullishness after 8 consecutive days of gains, so this shock found some poorly hedged positions.
The real question now: will btc.d remain dominant if geopolitical tensions persist? The Fed's support on interest rates seems to have been overshadowed by the risks. To watch closely.