Bitcoin, Ethereum, XRP, Dogecoin Plunge As ‘Extreme Fear’ Sentiment Intensifies: Despite ‘Terrible’ Market Environment, Analyst Says ‘Not Selling’
Leading cryptocurrencies declined alongside stocks on Monday amid a wave of sharp selling.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:25 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -3.20% | $91,828.39 |
| Ethereum (CRYPTO: ETH) |
-2.19% | $3,031.90 |
| XRP (CRYPTO: XRP) | -3.56% | $2.15 |
| Solana (CRYPTO: SOL) | -4.85% | $131.86 |
| Dogecoin (CRYPTO: DOGE) | -4.21% | $0.1527 |
Crypto Liquidations Surge
Bitcoin’s problems worsened as the apex cryptocurrency sank below $92,000, marking its lowest point in nearly eight months. The trading volume rose 26% in the last 24 hours, suggesting high selling interest.
Ethereum failed to hold the $3,000 support, hitting an intraday low of $2,957.31 before recovering some losses overnight. XRP and Dogecoin also recorded sharp declines.
Bitcoin and Ethereum’s market shares declined, while altcoin dominance increased to about 30%.
Cryptocurrency liquidations topped $760 million in the last 24 hours, according to Coinglass, with $483 million in long positions wiped out.
Bitcoin’s open interest increased 0.41% in the last 24 hours. The Long/Short ratio dropped further to 0.84, indicating that new short positions are being opened.
The “Extreme Fear” sentiment intensified, according to the Crypto Fear & Greed Index, hitting levels last seen in the last week of February.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 8:25 p.m. ET) |
|---|---|---|
| Internet Computer (ICP … |
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