Major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and XRP, have all seen significant declines alongside the current turbulent market.

Bitcoin Experiences Decline Amid Mixed Market Trends

Bitcoin’s price slid to as low as $52,714.52 before climbing back to currently trade at $54,140, a 3.90% decrease over the past 24 hours. Its market cap now sits at $1.06 trillion, with a 24-hour trading volume of $48.79 billion. The circulating supply of Bitcoin is 19,750,603 BTC, approaching its maximum limit of 21 million BTC.

Recent market trends show a mixed picture. Gold futures have declined by 0.38%, while the U.S. Dollar Index has risen slightly. Bitcoin dominance and exchange balances have both decreased marginally. Additionally, the Crypto Fear & Greed Index has plummeted by 24.14%, signaling increased market fear.

Despite these negative indicators, derivatives activity has surged. Futures volume has risen by 60.42%, and liquidations have spiked by 197.77%. Open interest in futures has dropped by 2.82%. Notably, top traders on Binance and OKX show a strong preference for long positions, with Binance’s top accounts up by over 21%.

Ethereum’s Price Falls as Derivatives Activity Rises

Ethereum’s price has fallen to $2,212.80, marking a 6.64% decline in the last 24 hours. The market cap of Ethereum is $266.24 billion, with a 24-hour trading volume of $25.34 billion. Ethereum’s circulating supply stands at 120,317,181 ETH.

Ethereum derivatives data shows a 103.18% increase in trading volume, reaching $44.76 billion. However, open interest has slightly decreased by 2.78% to $10.07 billion. Options trading volume has jumped by 95.49%, but options open interest has fallen by 1.83%.

Long/short ratios on Binance and OKX indicate a bullish sentiment, with a higher number of long positions. Liquidation data reveals $66.08 million was liquidated in the past 24 hours, with long positions being more affected. This trading activity suggests increased market volatility.

BNB’s Price Decline Coupled with Rising Derivatives Activity

BNB’s price has dropped to $482.40, a 3.51% decrease in the past 24 hours. Its market cap is $70.40 billion, and the 24-hour trading volume stands at $1.84 billion. BNB has a circulating supply of 145,934,580 coins.

BNB derivatives data shows a rise in trading volume, up 104.89% to $1.11 billion. Open interest has declined by 2.32% to $481.46 million. Options trading volume increased by 95.76%, though options open interest fell by 34.26%.

Long/short ratios indicate a bullish sentiment, with a predominance of long positions. However, liquidation data shows $2.28 million liquidated in the last 24 hours, mostly affecting long positions. This suggests increased market activity and volatility.

XRP Declines Amid Rising Derivatives Trading Volume

XRP is valued at $0.518714, down 4.51% over the past 24 hours. Its market cap stands at $29.18 billion, with a 24-hour trading volume of $1.50 billion. XRP’s circulating supply is 56,251,561,168 coins, with a maximum supply of 100 billion.

XRP derivatives data reveals a 103.17% increase in trading volume, reaching $1.49 billion. However, open interest has dropped by 6.42% to $557.32 million. Options trading surged by 205.56%, but options open interest fell dramatically by 78.92%.

Long/short ratios indicate a bullish sentiment, with more long positions. Nonetheless, $3.70 million was liquidated in the last 24 hours, with long positions being more affected. This indicates increased volatility despite a bullish outlook.

Bitcoin, Ethereum, BNB, and XRP have all seen notable declines in a turbulent market. Increased derivatives activity and shifting trader sentiment highlight the complex nature of the current crypto landscape.