Bitcoin, Ethereum, Dogecoin Gain As Trump Reaffirms Crypto Support: Are Short Sellers Exiting The Market?
Leading cryptocurrencies rose on Wednesday as President Donald Trump reiterated his intention to make the U.S. the “cryptocurrency capital.”
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +1.58% | $96,689.24 |
| Ethereum (CRYPTO: ETH) |
+2.13% | $2,716.15 |
| Dogecoin (CRYPTO: DOGE) | +1.90% | $0.2546 |
What Happened: Bitcoin sailed above $96,900, while Ethereum reentered the $2,700 zone overnight, amid Trump’s positive remarks about the industry at a Miami conference.
Bitcoin’s dominance remained over 60%, while Ethereum cornered a 10% market share.
Cryptocurrency liquidations hit $132.69 million in the last 24 hours, as the rally erased over $75 million in bearish bets.
Interestingly, Bitcoin’s Open interest fell 0.28%. A decline in Open Interest, coinciding with a price increase, indicated that shorts were covering their positions.
Bitcoin’s Long/Short ratio rose above 1, indicating that the majority of the traders were placing upside bets on the leading cryptocurrency.
Market sentiment flipped from “Fear” to “Neutral,” according to the Crypto …
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