Cryptocurrencies Price Prediction: Bitcoin, Arbitrum & Polygon — Asian Wrap 18 March

Bitcoin price decline below $65,000 liquidates over $125 million in long positions in 24 hours

Bitcoin, the largest cryptocurrency by market capitalization, declined nearly 6%, dropping below the $65,000 level for the first time in nearly ten days. The asset’s price drop ushered massive liquidation in derivatives markets. 

Arbitrum price dips post massive token unlock, mass sell-off drives ARB decline

Arbitrum, an Ethereum scaling token unlocked 1.1 billion tokens in line with its schedule on Saturday. Post the unlock, there was an increase in inflow of ARB tokens to exchanges, investors that received Arbitrum token airdrops, lined up to shed their holdings and realize gains. 

MATIC price is at risk of further decline despite rise in active addresses

The largest Ethereum scaling token Polygon’s native asset MATIC suffered a correction in its price despite the bullish on-chain metrics. MATIC price could plummet below crucial support at $1 if the correction ensues.