Doing worse than the market
The total crypto market is −4.7% in 24 hours. ME is −7.8%, 3.0% worse than the market, so part of the move is specific to Magic Eden.
Why is the crypto market moving? →
why / me
Why is Magic Eden down today?
Magic Eden (ME) is down 7.8% in the last 24 hours, trading at $0.0570. That is 3.0% worse than the whole crypto market (−4.7%), so part of the move is specific to Magic Eden. Bitcoin, which it partly follows, is −5.1%.
ME 24h−7.75%
Whole market 24h−4.73%
Bitcoin 24h−5.14%
Link to BTC (30d)0.67
Volume vs normal0.8×
signals
What is moving Magic Eden
Strongest signals first.
Partly follows Bitcoin
Over the last 30 days, ME's daily moves had a 0.67 correlation with Bitcoin (1 means identical direction). A moderate link. Bitcoin is −5.1% today.
Bitcoin price →Weak month
ME is −7.6% this week and −27% over 30 days, so today's move continues the monthly trend.
Normal trading volume
Volume is close to its 30-day average (0.8×), so there is no rush of buyers or sellers today.
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 ME positions right now, on the chart, in the Blockdeck app.
See VIP layers →next
Keep exploring Magic Eden
faq
Questions
Why is Magic Eden down today?
Magic Eden (ME) is down 7.8% in the last 24 hours, trading at $0.0570. That is 3.0% worse than the whole crypto market (−4.7%), so part of the move is specific to Magic Eden. Bitcoin, which it partly follows, is −5.1%.
Will Magic Eden go back up?
Nobody can know that in advance, and Blockdeck does not make price predictions. What the data shows: ME is −7.61% over 7 days and −27.29% 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, ME'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.