OG: Bitcoin, Ethereum, XRP, Dogecoin Plummet As ‘Extreme Fear’ Grips Investors: Analyst Says ETH Entering ‘Final Stage’ Of Correction
Leading cryptocurrencies sank deeper on Monday as the market recorded over $1 billion in liquidations.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -2.46% | $106,971.41 |
| Ethereum (CRYPTO: ETH) |
-5.62% | $3,632.86 |
| XRP (CRYPTO: XRP) | -6.39% | $2.33 |
| Solana (CRYPTO: SOL) | -10.27% | $167.42 |
| Dogecoin (CRYPTO: DOGE) | -7.55% | $0.1695 |
‘Extreme Fear’ Back In Crypto
Bitcoin tumbled below $106,000 as deleveraging continued in the market. The apex cryptocurrency’s trading volume more than doubled to $74 billion over the last 24 hours.
Ethereum sank below $3,600 overnight, as trading volume surged significantly, suggesting high selling pressure.
Nearly $1.28 billion was liquidated from the cryptocurrency market in the last 24 hours, according to Coinglass, with long positions accounting for 90% of the total.
Interestingly, Bitcoin’s open interest rose marginally by 0.03% in the last 24 hours. An increase in open interest combined with a decline in price typically indicates the opening of new short positions.
Nearly 70% of Binance traders with open BTC positions were betting on the asset’s price increase as …
About The Author
