Bitcoin Marches Ahead, Ethereum, Dogecoin Flat Amid Stocks’ Reversal: Analyst Highlights Factors Supporting King Crypto’s Rise To $71K
Market bellwether Bitcoin maintained its upsurge Tuesday, defying the sharp decline in stock prices.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
| Bitcoin (CRYPTO: BTC) | +2.22% | $67,341.02 |
| Ethereum (CRYPTO: ETH) |
-0.30% | $2,617.63 |
| Dogecoin (CRYPTO: DOGE) | -1.31% | $0.1166 |
What Happened: The world’s largest cryptocurrency bounced above $67,000 in early trading hours, the highest since July 29. Barring intermittent bouts of volatility, the coin broadly sustained its rally as of Monday overnight.
On the contrary, Ethereum failed to hold onto its gains after a spike to $2,679.
Digital asset trading firm QCP Capital noted that the rally could be election-driven, following Donald Trump’s significant lead on prediction markets against Kamala Harris.
Total cryptocurrency liquidations exceeded $304 million in the last 24 hours, the highest in over two weeks. More than $182 million in upside bets were erased.
Bitcoin’s Open Interest rose 2.21% to $38.10 billion, indicating an influx of fresh money into the speculative market.
The reading on the Cryptocurrency Fear & Greed index increased from 65 to 73, indicating that …
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