Bitcoin, Ethereum, Dogecoin Slide As Traders Turn Cautious Before Fed Meeting: Analyst Foresees BTC ‘Correction’ To $86,000
Leading cryptocurrencies dipped on Sunday ahead of the Federal Reserve’s monetary policy meeting.
What Happened: Bitcoin experienced sell-offs throughout the evening after peaking at $96,000 in the early morning hours.
Ethereum also slipped below $1,800 overnight, with trading volume rising by more than 6% in the last 24 hours.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -2.12% | $93,908.78 |
| Ethereum (CRYPTO: ETH) |
-2.46% | $1,797.63 |
| Dogecoin (CRYPTO: DOGE) | -3.68% | $0.1696 |
The apex cryptocurrency’s market dominance rose to a yearly high of 63.9% on Sunday, while Ethereum’s share was 7.4%.
The pullback eroded over $180 million worth of long positions from the market in the last 24 hours. Additionally, Bitcoin’s Open Interest fell over 3% in the last 24 hours to $62.19 billion.
Over 50% of Binance traders with open BTC positions were positioned short on Bitcoin as of this writing, per the Long/Short Ratio.
The market sentiment turned “Neutral,”, according to the Crypto Fear and Greed Index.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price … |
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