Bitcoin, Ethereum, Dogecoin Pull Back As Auto Stocks Trigger Equities Decline: Analyst Forecasts King Crypto’s Fall To $60.36K Because Of This Reason
Leading cryptocurrencies retraced Wednesday, coinciding with the decline in stocks triggered by the downgrade of automobile-related shares.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:15 p.m. EDT) |
| Bitcoin (CRYPTO: BTC) | -1.92% | $62,887.90 |
| Ethereum (CRYPTO: ETH) |
-2.61% | $2,572.07 |
| Dogecoin (CRYPTO: DOGE) | -0.91% | $0.1089 |
What Happened: Bitcoin steadily retreated during U.S. trading hours, falling as low as $62,770, a day after sailing to more than one-month highs.
Whales offloaded billions of Bitcoins in the past 24 hours, locking in profits from the previous day’s highs.
A similar downtrend was observed for Ethereum which fell below $2,600 in midday trading, only to consolidate in the higher $2,500 region for the rest of the day.
Total cryptocurrency liquidations amounted to $93 million in the last 24 hours, with bullish-leveraged traders bearing the brunt of the losses.
Bitcoin’s Open Interest slumped more than 3%, further indicating long liquidations.
The market sentiment continued to be “Neutral,” according to the popular Cryptocurrency Fear & Greed Index.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
| Worldcoin (WLD) | +13.57% | $2.08 |
| Notcoin (NOT) | +2.99% | $0.008202 |
| UNUS … |
About The Author
