Bitcoin, Ethereum Flat, Dogecoin Dips As Accumulation Gains Momentum: Path To $120,000 ‘Wide Open’ For BTC, Says Analyst
Leading cryptocurrencies held steady Thursday as the market warmed up to a Bitcoin re-accumulation trend.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +0.30% | $93,676.84 |
| Ethereum (CRYPTO: ETH) |
-0.94% | $1,772.67 |
| Dogecoin (CRYPTO: DOGE) | +2.71% | $0.1823 |
What Happened: Bitcoin dived to $91,700 early morning on profit-taking but regained the $93,000 by the afternoon. Overnight momentum lifted it briefly past $94,000.
Ethereum remained confined to a narrow range below $1,780 throughout the day. Both market heavyweights recorded a sharp fall in trading volumes.
Bitcoin’s market dominance was 63.4%, up from 60.5% the previous month, indicating continued demand for the leading asset.
About $276 million was liquidated from the cryptocurrency market in the last 24 hours, with short position traders losing more than those placing longs.
Bitcoin’s Open Interest increased by 0.95% in the last 24 hours, marking a second straight day of modest gains. Over the week, though, the leverage has surged by 18%.
The majority of Binance traders with an open Bitcoin position continued to …
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