Bitcoin, Ethereum, Dogecoin Reverse After Advances: BTC Records Historic Weekly Close While Analyst Paints $6K Target For ETH
Leading cryptocurrencies slipped in overnight trading on Sunday after Bitcoin recorded its first-ever weekly close above $100,000.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -0.49% | $99,600.82 |
| Ethereum (CRYPTO: ETH) |
-1.15% | $3,959.94 |
| Dogecoin (CRYPTO: DOGE) | -1.21% | $0.4582 |
What Happened: The world’s largest cryptocurrency rallied sharply during the evening, pushing above $101,000 before plunging below $100,000 overnight.
Ethereum also touched $4,000 before making a U-turn toward the $3,900 zone.
Bitcoin and Ethereum recorded declines in their market dominance, with the apex cryptocurrency’s share dropping by as much as 4.45% in the last 24 hours.
Cryptocurrency liquidations exceeded $222 million in the last 24 hours, with $149 million in leveraged long bets getting erased.
Bitcoin’s Open Interest (OI) rose marginally by 0.26%. An increase in OI, coming alongside a fall in spot price, could indicate the addition of more short positions, typically seen as a bearish signal.
Indeed, the number of traders betting against Bitcoin surged as the Long/Short Ratio dipped …
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