Bitcoin, Ethereum, Dogecoin Surge As Traders Raise Risk Appetite Ahead Of Thanksgiving: Analyst Sets Mid-Term Price Target For ETH At $6K
Leading cryptocurrencies rallied ahead of Thanksgiving, shrugging off sell-offs in the stock market.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +4.49% | $96,156.90 |
| Ethereum (CRYPTO: ETH) |
+9.94% | $3,652.83 |
| Dogecoin (CRYPTO: DOGE) | +4.81% | $0.4026 |
What Happened: Bitcoin began to surge in the early morning hours, reaching an intraday peak of $97,357. The rally reversed the corrective action that halted the leading cryptocurrency’s march to $100,000.
Ethereum, the second-largest cryptocurrency, outshone its senior partner with nearly 10% gains over the last 24 hours. The uptick boosted its weekly returns to 17%, compared to Bitcoin’s 1.34%.
Over $261 million were liquidated in the past 24 hours, with downside bets accounting for $182 million in losses.
Speculative interest rose as Open Interest, or the money locked in unsettled derivatives contracts, increased 14.62% for Ethereum, and 2.95% for Bitcoin.
The number of traders taking long positions for Bitcoin surged against those taking downside bets, according to the Long/Shorts Ratio.
The “Extreme Greed” sentiment strengthened from 75 to 77 over the last 24 hours, according to the reading of the Crypto Fear & Greed Index.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at … |
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