Bitcoin, Ethereum Drop, Dogecoin Gains As Stocks Flounder On Trump’s Auto Tariff Move: Analyst Sees Signs Of ‘Renewed Interest’ In BTC
Leading cryptocurrencies slacked on Wednesday as President Donald Trump imposed 25% levies on cars not manufactured in the U.S.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -0.64% | $87,177.14 |
| Ethereum (CRYPTO: ETH) |
-2.94% | $2,014.81 |
| Dogecoin (CRYPTO: DOGE) | +1.08% | $0.1961 |
What Happened: Bitcoin rose to $88,292.16 early morning but failed to sustain the rally, plunging below $86,000 late afternoon.
Ethereum recorded a steeper decline, nearly 3%, in the last 24 hours. The second-largest cryptocurrency fell below $2,000 in the late afternoon but recouped some losses by evening.
Bitcoin’s market dominance increased to 60.5% while Ethereum’s share shrank by 1.91% over the last 24 hours. Dogecoin, meanwhile, recorded a healthy gain of 5%.
Cryptocurrency liquidations reached $268.44 million in the last 24 hours, with $186 million in bullish bets getting wiped out. A further $500 million in longs risked liquidation if Bitcoin dropped to $84,285.
Bitcoin’s Open Interest fell 2.60% in the last 24 hours. Interestingly, despite the price dip, Ethereum’s Open Interest rose 2.95%, suggesting the potential opening of new short positions.
More than 50% of derivatives …
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