Bitcoin, Ethereum, XRP, Dogecoin Bleed As Hot Macro Data Dashes Rate Cut Hopes: Analyst Says ‘90% Of The Correction Is Over’
Leading cryptocurrencies plunged alongside stocks on Thursday, as strong economic data dampened expectations for a rate cut by the Federal Reserve.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:20 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -3.11% | $109,768.00 |
| Ethereum (CRYPTO: ETH) |
-4.41% | $3,941.99 |
| XRP (CRYPTO: XRP) | -4.83% | $2.77 |
| Solana (CRYPTO: SOL) | -6.60% | $196.94 |
| Dogecoin (CRYPTO: DOGE) | -5.31% | $0.2271 |
Liquidations Top $1 Billion
Bitcoin dived below $109,000, worsening the downturn. The apex cryptocurrency’s trading volume jumped 55% in the last 24 hours, signaling high selling pressure.
Ethereum sank below $4,000 for the first time in six weeks, with volumes doubling in the 24-hour period.
Nearly $1.20 billion was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $1.08 billion
Bitcoin’s open interest fell 2.59% in the last 24 hours, but the number of Binance traders betting on the asset’s price rise rose dramatically, according to the Long/Short ratio.
The “Fear” sentiment intensified in the cryptocurrency market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
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