Bitcoin, Ethereum, Dogecoin Pare Losses Even As ‘Extreme Fear’ Prevails: Top Analyst Has This To Say About Buying The Dip

Leading cryptocurrencies pared some of their losses Tuesday from the morning crash even as the market slipped into “Extreme Fear” mode.

What Happened: Bitcoin tanked to an intraday low of $86,008.23, its lowest since Nov. 12, before recovering to the early $88,000s as traders bought the dip. The leading cryptocurrency was down 13.43% in February, headed toward its worst February since 2014. 

Ethereum also recovered from its dramatic drop to $2,339 earlier this morning, climbing beyond $2,500 by the evening. Month-to-date, the second-largest cryptocurrency has lost over 24%.

Nearly $1.07 billion was liquidated from the cryptocurrency market in the last 24 hours, with bullish bets accounting for over $873 million.

Bitcoin’s Open Interest dropped by 5.06% in the last 24 hours, with short positions rising vis-à-vis long positions.

The market went into the “Extreme …

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