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Spot market volatility intensifies: HIVE drops 16% to new lows, ILV defies the trend to reach weekly highs
【BitPush】Spot market volatility intensifies, with multiple cryptocurrencies reaching key price levels. NTRN dropped 13.94% within 24 hours, HIVE experienced an even larger decline of 16.28%, hitting a new low for the day. Affected by market adjustments, STEEM, BANK, SNX, and GAS also bottomed out successively, with declines of 6.1%, 7.39%, 5.27%, and 6.86% respectively.
However, there are mixed gains and losses. ILV performed remarkably well, reaching a new high for the week, with a weekly increase of 6.25%. GMT experienced a short-term rebound, rising 3.02% on the 5-minute K-line, indicating some funds are beginning to bottom out.
ILV's weekly gains are decent, but I still think the rebound arbitrage space is limited, and a retest is inevitable
The funds bottom-fishing, I bet they are also calculating liquidation prices... Anyway, I was forcibly liquidated again yesterday
The 3-point rebound of GMT, from a technical perspective, lacks convincing power, continue to watch
This correction was quite significant, but the real opportunities are on the list, no action for now