Bitcoin, Ethereum, Dogecoin Slide On Weaker-Than-Expected Job Growth: Analyst Predicts ‘Massive Breakout’ Incoming For Markets—Here’s Why
Leading cryptocurrencies slipped Tuesday after weak private-sector job growth dampened investor sentiment.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.68% | $105,032.58 |
| Ethereum (CRYPTO: ETH) |
-0.27% | $2,610.06 |
| Dogecoin (CRYPTO: DOGE) | -2.64% | $0.1882 |
What Happened: Bitcoin dipped to an intraday low of $104,232.70 in early trading hours and fluctuated between the low $105,000s and high $104,000s for the rest of the day.
Ethereum surged to $2,670 but failed to sustain the rally, retreating to the early-$2,600 region. Compared to Bitcoin, the second-largest cryptocurrency recorded higher trading volumes during the day.
These moves led to the liquidation of nearly $150 million worth of bullish bets, while $64 million in shorts were erased.
That said, about $492 million in Bitcoin shorts were at the risk of liquidation if Bitcoin reclaims $107,000.
Bitcoin’s Open Interest declined by 0.47% in the last 24 hours, matching the fall in its spot price. Interestingly, the majority of the top traders on Binance with open BTC positions placed bullish bets on the apex cryptocurrency.
The “Greed” sentiment weakened from 62 to 57 in …
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