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Arbitrum downside continues, sending nearly all ARB investors underwater

By:
on Sep 12, 2023
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  • Arbitrum leads the crypto market slump with new lows.
  • Nearly all of Arbitrum’s investors are currently underwater.
  • Fear dominated the cryptocurrency market during this publication.

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Invezz.com reported how Arbitrum price exhibits a downside trend amid weakened futures market. The continued price dip has left 99% of ARB investors with massive losses, and it may take time to witness recoveries.

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Arbitrum price hits new lows

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Arbitrum has struggled with bearishness this month, hitting new lows three times since early September. The token traded at $0.76 at press time, following a 10% decline over the past day.

The downside stance escalated after dip-pocketed players dumped ARB tokens worth millions in the last 24 hours. Meantime, players continue to lose confidence in Arbitrum due to prolonged downsides. Recently, Wintermute Trading deposited more than 4.35 million ARBs into Binance.

Nearly all ARB holders experience losses

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IntoTheBlock’s data shows almost every ARB holder struggling with losses as the token prints all-time lows. Individuals who purchased at the $1.69 ATH suffer the most, losing 62% of their investments in the alt.

Source – IntoTheBlock

However, this narrative has yet to cause mass investors to exist (till now), with addresses with balance staying unchanged. Nonetheless, ARB should recover soon to avoid dumping by enthusiasts.

Meanwhile, fear dominates the cryptocurrency market. The Fear and Greed Index shows this metric even outpacing the mid-August slump with highs never seen since January 2023.

Persistent fear might see asset dumping surpassing accumulation, ruining investor sentiment. Enthusiasts will refrain from buying the dip and trim their holding to escape further losses.

Therefore, individuals looking to purchase ARB may have to watch for more downsides to avoid unprecedented losses. Meanwhile, Invezz.com highlighted upcoming projects designed to enhance the Arbitrum ecosystem.

ARB’s potential recovery

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Arbitrum bulls will fight to regain the $0.94 zone amid recovery plans. ARB has retested as support several times over the last 90 days. That might open the path to levels above the $1 mark.

Also, potential recoveries would encourage Arbitrum holders to expect profits, which have deteriorated following the latest crash.

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