Bitcoin Breaks $106K, Ethereum, Dogecoin Rally Ahead Of Key Fed Meet But Top Analyst Triggers Anxiety With This Observation
Leading cryptocurrencies surged Sunday evening as investors raised risk appetites on strong expectations of another interest rate cut.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +5.04% | $106,370.44 |
| Ethereum (CRYPTO: ETH) |
+3.51% | $3,992.72 |
| Dogecoin (CRYPTO: DOGE) | +2.21% | $0.4033 |
What Happened: Bitcoin tapped a new all-time high of $106,000, having earlier broken through the $102,000 resistance
Following in its footsteps, Ethereum rose above $4,000 before pulling back slightly.
Total cryptocurrency liquidations topped $309 million over the last 24 hours, out of which $204 million belonged to leveraged shorts.
The market started to get overleveraged, and any dip below $100,000 would liquidate over $1 billion in long positions.
Bitcoin’s Open Interest soared by 7.48% in the last 24 hours. A rise in OI, coinciding with a price rally, indicated an influx of fresh money into the derivatives market.
Market sentiment remained in the “Extreme Greed” zone, as per the Cryptocurrency Fear & Greed Index,
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Fantom (FTM) | +20.94% | $1.47 |
| Stacks (ETX) | +17.47% | $2.59 |
| Ondo (ONDO) | +16.05% | $2.14 |
The global cryptocurrency market capitalization stood at $3.74 trillion, following an increase of 1.92% over …
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