Bitcoin, Ethereum, Dogecoin Plunge Deeper Amid US-China Trade War 2.0: Analyst Foresees ‘Rapid’ Crypto Recovery Whenever Tariff Solution Reached
Leading cryptocurrencies dived further on Tuesday as U.S.-China trade war fears fueled downside volatility.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -3.32% | $76,504.63 |
| Ethereum (CRYPTO: ETH) |
-5.16% | $1,469.57 |
| Dogecoin (CRYPTO: DOGE) | -4.11% | $0.1427 |
What Happened: Bitcoin rose to $80,000 in the early trading hours but reversed course later, plunging below $76,000 overnight.
Ethereum‘s short-lived rally also fizzled out, as the second-largest cryptocurrency dipped to an intraday low of $1,427.05.
Bitcoin’s dominance grew further to 62.7%, while Ethereum’s market share shrank to 7.2%, less than half of what it was a year ago.
The slump triggered a liquidation of $271 million in long positions. That said, over $950 million in shorts for the BTC/USDT pair on Binance risk liquidation if Bitcoin rebounds to $80,000.
Bitcoin’s Open Interest decreased 2.08% in the last 24 hours and more than 16% from its late March highs when the apex cryptocurrency surpassed $87,000.
Moreover, Bitcoin’s Long/Short ratio fell sharply in the last 24 hours, …
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