Bitcoin, Ethereum, Dogecoin Tumble As ‘Diamond Hands’ Lock In Gains: Top Analyst Anticipates BTC Rebound
Posted On November 27, 2024
Leading cryptocurrencies slid further Tuesday, as long-term investors continued to chase profits.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -2.18% | $92,538.27 |
| Ethereum (CRYPTO: ETH) |
-3.32% | $3,335.13 |
| Dogecoin (CRYPTO: DOGE) | -4.39% | $0.3886 |
What Happened: Bitcoin fell to an intraday low of $90,770 before recovering to $92,500 in overnight hours. The corrective action has wiped all of the gains made over the week, halting the leading cryptocurrency’s rise to $100,000.
Long-term Bitcoin holders have offloaded 728,000 coins in the past 30 days, marking the largest sell-off since April.
Over $364 million in long positions were liquidated in the past 24 hours, out of a total of $477 million. Bitcoin’s Open Interest also declined by over 5% in the last 24 hours.
That said, the number of Binance traders going long on Bitcoin still heavily outpaced those betting against …
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