Bitcoin, Ethereum Consolidate, Dogecoin Surges As Election Rally Takes A Breather: Analyst Says Pullback ‘Typical’ For Healthy Market
Leading cryptocurrencies cooled down from their blistering election run Tuesday, although Bitcoin briefly hit the $90,000 milestone.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +0.28% | $88,460.30 |
| Ethereum (CRYPTO: ETH) |
-1.43% | $3,267.67 |
| Dogecoin (CRYPTO: DOGE) | +9.79% | $0.3761 |
What Happened: The world’s largest cryptocurrency temporarily touched $90,000 for the first time in history before quickly giving in to sell pressure.
Ethereum also remained volatile, topping $3,400 for the first time since the last week of July before falling below $3,300.
Meanwhile, Dogecoin continued its uptrend after President-elect Donald Trump appointed tech mogul Elon Musk and former presidential candidate Vivek Ramaswamy to lead the much-anticipated Department of Government Efficiency (DOGE).
The halt in the rally affected bullish leveraged traders, as nearly $550 million in long positions were wiped out in the last 24 hours.
The overheated market cooled down as funding rates across major exchanges dropped sharply, though long-position traders still maintained their dominance.
The “Extreme Greed” sentiment intensified as the reading on the Cryptocurrency …
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