Bitcoin, Ethereum, Dogecoin Settle Down Amid Growing Talks Of A Strategic BTC Reserve: Top Analyst Sees Prospect Of Apex Crypto Hitting $110K This Week
Leading cryptocurrencies simmered down Monday after a smashing rally even as speculations around a U.S. strategic Bitcoin reserve gathered steam.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -0.10% | $106,072.58 |
| Ethereum (CRYPTO: ETH) |
-0.69% | $3,966.41 |
| Dogecoin (CRYPTO: DOGE) | -1.74% | $0.4009 |
What Happened: The world’s largest cryptocurrency broke beyond $107,000 for the first time this afternoon before profit-taking brought it back to $105,000, with a modest increase to $106,000 by evening.
The sentiment was upbeat following reports that President-elect Donald Trump might pass an executive order to create a national Bitcoin stockpile.
Bitcoin was already up 9.11% in December, higher than the historical average of 5.75%, per Coinglass data.
A similar pattern followed for Ethereum, which failed to decisively break over $4,000 and fell to the upper $3,900 range.
In the past 24 hours, 119,098 traders were liquidated, with the total liquidations at $371.44 million. Longs accounted for 60% of the liquidations.
Over 61% of traders on Binance with open Bitcoin futures positions were short, as per the Long/Short Ratio, suggesting expectations of a pullback.
A rally to $110,000 would wipe out over $500 million worth of short positions, data …
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