Bitcoin, Ethereum, Dogecoin Gain; Solana Slides — Analytics Firm Notes Strong ETH Accumulation By ‘Millionaire’ and ‘Small Billionaire’ Investors
Market sentiment in the cryptocurrency space shifted back to “Neutral” on Wednesday, although strong accumulation added momentum for some large-cap coins.
| Cryptocurrency | Gains +/- | Price (Recorded at 11:00 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +0.16% | $111,564.16 |
| Ethereum (CRYPTO: ETH) |
+1.89% | $4,427.04 |
| XRP (CRYPTO: XRP) | -0.44% | $2.84 |
| Solana (CRYPTO: SOL) | -1.18% | $208.76 |
| Dogecoin (CRYPTO: DOGE) | +0.78% | $0.2180 |
Bitcoin Stagnates Around $112,000
Bitcoin hovered between $111,400 and $112,500 during the day, while trading volume plunged 23% over the last 24 hours.
Ethereum, meanwhile, crept up to an intraday high of $4,489.20, following news that a Jack Ma-backed firm has invested $44 million as part of its strategic ETH reserve. Solana slipped 1.18% in the 24-hour period.
Ethereum’s dominance rose to 13.9%, while Bitcoin’s market share narrowed to 57.7%.
Bearish cryptocurrency traders were impacted again, with over $100 million in shorts getting wiped out in the last 24 hours.
Bitcoin’s open interest fell 1.33% in the last 24 hours. A fall in open interest with a rise in price typically indicated that shorts were closing their positions. About 58% of Binance traders with open BTC positions were betting on an price increase, …
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