Bitcoin, Ethereum, XRP, Dogecoin Slide Further: Analysts Say BTC Needs A Close Above $117,000 To Pull Market Higher
Leading cryptocurrencies declined alongside stocks on Thursday, while gold marched to new highs.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:15 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.77% | $109,036.62 |
| Ethereum (CRYPTO: ETH) |
-1.66% | $3,940.21 |
| XRP (CRYPTO: XRP) | -1.47% | $2.38 |
| Solana (CRYPTO: SOL) | -4.07% | $187.05 |
| Dogecoin (CRYPTO: DOGE) | -3.19% | $0.1907 |
Crypto Investors In ‘Extreme Fear’
Bitcoin’s descent continued as the apex cryptocurrency fell to $107,500, its lowest level in more than three months. Ethereum sank to an intraday low of $3,829.65 late afternoon but recovered to $3,940 overnight.
Selling pressure was high for the two assets, with Bitcoin’s volume dropping 22% and Ethereum’s falling 5% in the last 24 hours.
Liquidations hit $737 million in the last 24 hours, with over $530 million in bullish long positions wiped out from the cryptocurrency market, according to Coinglass.
Interestingly, Bitcoin’s open interest rose 2.85% over the last 24 hours to $73 billion. A rise in open interest, coinciding with a price drop, typically indicates that traders are opening new short …
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