Bitcoin, Ethereum, XRP, Dogecoin Snap Winning Run; Analyst Sees New ETH Highs Once Gold’s ‘Insanely Parabolic’ Trajectory Ends
Leading cryptocurrencies slumped alongside markets on Tuesday, while gold surged to fresh highs, as the U.S. government shutdown entered its seventh day.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -2.17% | $122,010.53 |
| Ethereum (CRYPTO: ETH) |
-4.13% | $4,486.78 |
| XRP (CRYPTO: XRP) | -3.73% | $2.87 |
| Solana (CRYPTO: SOL) | -4.09% | $222.04 |
| Dogecoin (CRYPTO: DOGE) | -5.65% | $0.2498 |
Market Cools Down
Bitcoin fell below $121,000, ending a week-long rally that had sent it to record highs. Trading volume surged 15% in the last 24 hours, suggesting high selling pressure.
Similarly, Ethereum retreated from the mid $4,700s to below $4,500, while volumes jumped 60%. XRP and Solana also recorded sharp declines.
In the past 24 hours, 167,851 traders were liquidated, with total cryptocurrency liquidations at $621.29 million, according to Coinglass. Nearly $470 million in bullish longs were wiped out.
Bitcoin’s open interest fell 3.33% to $90.81 billion, while more than 50% of Binance futures traders remained bearish on the asset, according to the Long/Short ratio.
The market’s “Greed” sentiment weakened, …
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