Doing worse than the market
The total crypto market is −4.1% in 24 hours. BP is −14%, 9.8% worse than the market, so part of the move is specific to Backpack.
Why is the crypto market moving? →
why / bp
Why is Backpack down today?
Backpack (BP) is down 14% in the last 24 hours, trading at $0.9199. That is 9.8% worse than the whole crypto market (−4.1%), so part of the move is specific to Backpack. Its sector, Exchange-based Tokens, is −4.8% today.
BP 24h−13.89%
Whole market 24h−4.12%
Bitcoin 24h−4.77%
Link to BTC (30d)0.05
Volume vs normal—
Exchange-based Tokens sector−4.76%
signals
What is moving Backpack
Strongest signals first.
The Exchange-based Tokens sector is down
Backpack is part of the Exchange-based Tokens sector, which is −4.8% today. BP is moving with its sector.
Exchange-based Tokens sector →Lowest price in 30 days
BP at $0.9199 is below every daily close of the past month (previous low $0.9675). Breaking a recent low can trigger stop-loss selling.
Moving on its own, not with Bitcoin
Over the last 30 days, BP's daily moves had a 0.05 correlation with Bitcoin (1 means identical direction). That is low: BP has mostly moved on its own lately, while Bitcoin is −4.8% today.
Bitcoin price →Weak month
BP is −9.8% this week and −23% over 30 days, so today's move continues the monthly trend.
Market mood: Fear (30)
The Crypto Fear & Greed Index reads 30 out of 100, down from 51 yesterday. Sentiment is not extreme either way.
Fear & Greed Index →Liquidations, funding and open interest
See whether leveraged traders are being forced out of BP positions right now, on the chart, in the Blockdeck app.
See VIP layers →next
Keep exploring Backpack
faq
Questions
Why is Backpack down today?
Backpack (BP) is down 14% in the last 24 hours, trading at $0.9199. That is 9.8% worse than the whole crypto market (−4.1%), so part of the move is specific to Backpack. Its sector, Exchange-based Tokens, is −4.8% today.
Will Backpack go back up?
Nobody can know that in advance, and Blockdeck does not make price predictions. What the data shows: BP is −9.82% over 7 days and −23.39% over 30 days. Check the live chart and the signals above, and never trade more than you can afford to lose.
How is this explanation made?
From measured market data, refreshed every few minutes: the whole market's move, BP's link to Bitcoin over 30 days, its sector, trading volume against its 30-day average, recent news, where the price sits in its range, and market sentiment. Nothing here is guessed or written by hand.
Explanations are built from market data and are not financial advice.