Bitcoin, Ethereum, Dogecoin Dip As Investors Seek Volatility Over A Dull Weekend: Analyst Thinks ‘Blindly’ Longing The BTC Range Lows May Not Be A Good Idea
Leading cryptocurrencies slid on Sunday, as the market endured dwindling volume and volatility.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -1.34% | $96,387.98 |
| Ethereum (CRYPTO: ETH) |
-1.23% | $2,669.97 |
| Dogecoin (CRYPTO: DOGE) | -2.39% | $0.2661 |
What Happened: Bitcoin consolidated between $96,000 and $97,650, extending the sideways market trajectory since recovering from the ‘Black Sunday’ crash. Ethereum dipped below $2,700, falling to an intraday low of $2,655.30.
The two blue-chip assets witnessed a decline in 24-hour trading volumes, suggesting weak demand.
Cryptocurrency liquidations rose above $109 million in the last 24 hours, with long liquidations amounting to $78 million.
Over $300 million in short positions risked liquidation if Bitcoin rises to $100,000.
About 52% of Bitcoin derivatives traders were positioned short, according to the Long/Short Ratio, implying a further decline in prices.
Market sentiment remained “Neutral,” according to the Crypto Fear & Greed Index, indicating no clear dominance of either bullish or bearish forces.
Top Gainers …
About The Author
