Bitcoin, Ethereum, Dogecoin Recover Losses After Flash Crash: Analyst Pinpoints Critical BTC Support Levels
Leading cryptocurrency dumped hard on Monday following Bitcoin’s flash crash to $94,000.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -1.86% | $97,790.92 |
| Ethereum (CRYPTO: ETH) |
-5.05% | $3,765.62 |
| Dogecoin (CRYPTO: DOGE) | -9.34% | $0.4164 |
What Happened: The world’s largest cryptocurrency got rejected at $100,000 during morning trading and later slumped from $98,000 to an intraday low of $94,355 in a span of two hours, triggering a barrage of liquidations.
Prices recovered to the high $97,000s overnight.
Ethereum witnessed similar turbulence, plunging sharply to $3,550 to later rebound to $3,765.
The crash triggered about $1.72 billion in cryptocurrency liquidations in the last 24 hours, with leveraged longs accounting for nearly $1.55 billion.
About $509 million in short positions risked liquidation if Bitcoin reclaimed $100,000.
Bitcoin’s Open Interest dropped by 1.32% in the last 24 hours, while Ethereum saw a 5.44% plunge in money locked in unsettled futures contracts.
That said, the total number of long positions for Bitcoin surged in comparison to shorts, indicating expectations of future price increases.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price … |
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