Bitcoin, Ethereum, Dogecoin Mirror Tech Stocks Sell-Off As Trump’s ‘Big Beautiful Bill’ Passes Senate: Analyst Spots ‘Rare Warning’ For BTC
Leading cryptocurrencies fell alongside tech stocks Tuesday as the Senate passed President Donald Trump’s mega tax-and-spending bill.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:25 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.85% | $105,518.53 |
| Ethereum (CRYPTO: ETH) |
-4.03% | $2,395.09 |
| Dogecoin (CRYPTO: DOGE) | -4.72% | $0.1582 |
What Happened: Bitcoin went downhill, hitting an intraday low of $105,157.40. The trading volume rose over 6% in the last 24 hours, suggesting significant sell pressure. Ethereum trended downward in the $2,400 region.
The decline erased over $220 million worth of bullish longs, with total liquidations reaching $258 million.
Meanwhile, over $500 million in short positions risked liquidation if Bitcoin surges to $109,000.
Bitcoin’s open interest fell 3.38% in the last 24 hours, while Ethereum recorded a gain of 0.88%. When open interest increases while the price falls, it suggests that more traders are entering short positions.
The “Greed” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
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