Bitcoin, Ethereum, Dogecoin Stay Muted Before Fed’s Interest Rate Decision: Analyst Says BTC In Parabolic Phase, Reveals Its Duration
Leading cryptocurrencies stayed muted on Tuesday ahead of the Federal Reserve’s last policy decision of 2024.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -0.18% | $105,942.00 |
| Ethereum (CRYPTO: ETH) |
-2.29% | $3,873.95 |
| Dogecoin (CRYPTO: DOGE) | -1.68% | $0.3916 |
What Happened: Bitcoin made a new all-time high of $108,000 in early trading hours before falling sharply to $105,000 shortly thereafter. Volatility persisted throughout the day, with the leading coin bouncing around and below $107,000.
Ethereum’s decline was steeper, as it dropped below $4,000 to a low of $3,800.
The total cryptocurrency liquidations surpassed $316 million in the last 24 hours, with long liquidations accounting for an overwhelming share.
Bitcoin’s Open Interest rose despite the price weakness, suggesting the opening of new short positions. Nearly 60% of Binance futures traders were betting against Bitcoin, according to the Long/Short Ratio.
Market sentiment remained in the “Extreme Greed” region, per the Cryptocurrency Fear & Greed Index.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Pudgy … |
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