Arbitrum (ARB) Reaches All-Time Low Amid Crypto Market Slippage
Arbitrum (ARB) has hit an all-time low, dropping over 28% in the last 24 hours. This decline has also affected Bitcoin (BTC) and Ethereum (ETH). Despite the drop in price, the daily trading volume for ARB has increased by 151%, indicating that many investors are selling the asset due to negative news or a general decline in the market. This has created a negative divergence, suggesting significant bearish sentiment towards the token. Additionally, the drop in price has triggered liquidations of long positions, with forced long liquidations on ARB reaching $2.01 million at the time of writing.
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