Bitcoin, Ethereum, Dogecoin Retreat Further As Crypto Liquidations Top $1 Billion: Analyst Lays Out Scenario For BTC Losing $96K Support
The cryptocurrency market cracked further Thursday as risk sentiment remained low following the Federal Reserve’s hawkish statements.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -3.30% | $97,251.29 |
| Ethereum (CRYPTO: ETH) |
-6.08% | $3,425.34 |
| Dogecoin (CRYPTO: DOGE) | -12.28% | $0.3159 |
What Happened: Bitcoin rallied to $102,000 in the early hours but gave up gains as the day progressed, dipping below $96,000 for the first time in over a month.
Similarly, Ethereum lifted above $3,700 only to crash below $3,400 by late afternoon. The world’s second-largest cryptocurrency was down over 11% over the week.
Over $1 billion was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $860 million.
Bitcoin’s Open Interest plunged 4.24% in the last 24 hours, alongside a drop in spot price. That said, the percentage of Binance traders taking long positions for the cryptocurrency rose sharply to 61%, against 38% betting against the asset, according to the Long/Short …
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