Bitcoin, Ethereum, Dogecoin Mirror Stock Declines Ahead Of Crucial Inflation Data Release: Top Analyst Says ‘Buy The Dip,’ Predicts $275K BTC Target
Leading cryptocurrencies and stocks slumped for a second straight day on Tuesday as investors awaited the release of a key inflation report.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -1.87% | $96,200.49 |
| Ethereum (CRYPTO: ETH) |
-4.59% | $3,601.65 |
| Dogecoin (CRYPTO: DOGE) | -3.92% | $0.3943 |
What Happened: Bitcoin plunged to $94,300 in the early trading hours but pared losses by rebounding above $96,000 overnight.
Ethereum followed a similar trajectory, plunging from $3,750 to $3.522 before recouping some losses in the second half.
Cryptocurrency liquidations exceeded $625 million in the last 24 hours, with long liquidations accounting for $484 million.
Over $700 million in longs further risked liquidation if Bitcoin pulls back to $90,000. On the contrary, a spike to $100,000 would wipe out $719 million worth of short positions.
Bitcoin’s Open Interest fell by 3.33% in the last 24 hours, while the number of traders longing the asset also fell, as evidenced by the drop in the Long/Short ratio.
Market sentiment remained in the “Greed” zone, as per the Cryptocurrency Fear & Greed Index
Top Gainers (24-Hours)
| Cryptocurrency | Gains … |
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