Bitcoin Dips Ahead Of CPI Release; Ethereum, Dogecoin Also Slide: Analyst Calls ETH The ‘Fastest Horse To Bet On,’ Eyes $10,000 Target
Leading cryptocurrencies slid on Monday as investors braced for a rise in consumer inflation.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:15 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.20% | $118,905.51 |
| Ethereum (CRYPTO: ETH) |
-0.26% | $4,272.96 |
| XRP (CRYPTO: DOGE) | -1.75% | $3.14 |
| Solana (CRYPTO: XRP) | -3.80% | $175.26 |
| Dogecoin (CRYPTO: SOL) | -4.06% | $0.2246 |
Reversal After Sunday’s Rally
Bitcoin retreated sharply following the surge to over $122,000 on Sunday. The apex cryptocurrency dropped to an intraday low of $118,159.03, with trading volume increasing 38.31% in the last 24 hours.
Ethereum also had a volatile session, ranging between $4,350 and $4,168.87, while trading volume soared 44% in the last 24 hours.
ETH’s market dominance remained above 13%, while Bitcoin’s share narrowed to 59%
Over $550 million was liquidated from the cryptocurrency market in the last 24 hours, with $357 million in long positions wiped out.
That said, over $1 billion in Bitcoin shorts risked liquidation if the apex cryptocurrency surged to its all-time highs near $123,000.
Bitcoin’s open interest rose marginally by 0.07% in the last 24 hours, with derivatives traders on Binance split between taking bullish and bearish bets on the cryptocurrency.
The “Greed” …
About The Author
