Bitcoin, Ethereum, XRP Flat; Solana Rises: BTC Is On ‘Knife’s Edge,’ Says Analytics Firm — Future Depends On This Level
Cryptocurrencies held steady while stocks hit fresh highs on Wednesday, as a downward revision to jobs data lowered optimism but strengthened expectations for rate cuts.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:20 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.31% | $111,092.17 |
| Ethereum (CRYPTO: ETH) |
+0.02% | $4,290.85 |
| XRP (CRYPTO: XRP) | -0.02% | $2.95 |
| Solana (CRYPTO: SOL) | +1.43% | $216.10 |
| Dogecoin (CRYPTO: DOGE) | +0.33% | $0.2383 |
Bitcoin, ETH Move Sideways
Bitcoin ran past $113,000 in the early hours, only to plunge back to the $110,000 region. The trading volume surged 16% in the last 24 hours.
Ethereum continued to oscillate between $4,270 and $4,381, down over 13% from its all-time highs last month. XRP was little changed in the 24-hour period.
In the past 24 hours, 151,884 traders were liquidated, with total liquidations at $309.11 million. Nearly $180 million in bullish long bets were erased.
Over $330 million was liquidated from the cryptocurrency market in the last 24 hours, with $209 million in bearish shorts erased.
Bitcoin’s open interest rose 1.73% in the last 24 hours. An increase in OI, coinciding with a drop in spot price, indicates opening of new short positions. This was evidenced by a marked drop in Bitcoin’s Long/Short Ratio, from 1.01 to 0.70, in the last 24 hours.
The …
About The Author
