Bitcoin, Ethereum, Dogecoin Slingshot To The Moon After Trump Victory But ‘Sharp’ Correction Might Be In Store: Analyst Views BTC Between $80-90K By End Of Year
Leading cryptocurrencies gave a thumbs up to Donald Trump’s presidential victory in anticipation of a friendlier White House.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +6.15% | $75,185.83 |
| Ethereum (CRYPTO: ETH) |
+9.67% | $2,706.00 |
| Dogecoin (CRYPTO: DOGE) | +8.18% | $0.1941 |
What Happened: Bitcoin bettered its previous all-time high established in March with a handsome rally that pushed it above $75,000 for the first time.
The apex cryptocurrency’s fourth-quarter gains increased to 18.74%, with history showing average returns of 83%.
Ethereum jumped to levels last seen in late August, while Dogecoin spiked over 8%.
Ethereum also encountered heavy sell-offs, while Dogecoin outperformed the market with over 8% gains in the last 24 hours.
Bearish leveraged traders witnessed a bloodbath, with nearly $400 million in short positions getting wiped out in the last 24 hours.
Bitcoin’s Open Interest surged 9.30%, indicating a significant rise in speculative interest. Most top traders on the cryptocurrency exchange Binance leaned toward bullish positions, as the Binance Top Trader Long/Short Ratio was 1.48 as of this writing.
Market sentiment snowballed to “Extreme Greed,” as per …
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