Bitcoin Trades Flat Ahead Of Fed Interest Rate Decision; Ethereum, Dogecoin Gain: Analyst Says ‘Next Impulse’ Will Send BTC To $130,000
The cryptocurrency market remained calm Tuesday ahead of the Federal Reserve’s interest rate decision, with traders expecting the central bank to keep rates unchanged.
| Cryptocurrency | Gains +/- | Price (Recorded at 10:30 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +0.26% | $117,951.86 |
| Ethereum (CRYPTO: ETH) |
+1.63% | $3,804.28 |
| Dogecoin (CRYPTO: DOGE) | +0.86% | $0.2255 |
What Happened: Bitcoin continued to fluctuate between $117,000 and $119,000, as trading volume remained thin. This, despite a $2.52 billion purchase by Strategy Inc. (NASDAQ:MSTR) using the proceeds from the initial public offering of its STRC preferred stock.
Ethereum, meanwhile, rose slightly, helped by significant investments by Cathie Wood-led Ark Invest in BitMine Immersion Technologies Inc. (AMEX:BMNR), a firm that has adopted ETH as its primary reserve asset.
Bitcoin’s market dominance dipped to 60.6%. On the other hand, Ethereum’s market share increased to 11.9%
Cryptocurrency liquidations shot up to $300 million in the last 24 hours, with $209 million in upside bets wiped out.
Bitcoin’s open interest dropped by 1.45% in the last 24 hours. The majority of Binance …
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