Bitcoin, Ethereum, XRP, Dogecoin Rebound After Steep Sell-Off: Analyst Highlights ‘Good Bounce’ For BTC, Predicts Level Before A ‘New Base’ Is Found
Leading cryptocurrencies rebounded alongside stocks on Sunday, as investors raised the prospect of a December rate cut following dovish signals.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:25 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +1.56% | $86,716.06 |
| Ethereum (CRYPTO: ETH) |
+0.14% | $2,788.04 |
| XRP (CRYPTO: XRP) | +3.89% | $2.04 |
| Solana (CRYPTO: SOL) | +1.76% | $130.77 |
| Dogecoin (CRYPTO: DOGE) | +2.88% | $0.1447 |
Cryptos See Slight Recovery
Bitcoin broke through $88,000 but returned to the $86,000 level overnight. Trading volume jumped 50% to $57 billion, indicating high trader interest and buying pressure. Similarly, Ethereum rallied to an intraday high of $2,856.45 before returning to $2,700.
The two assets fell sharply this week, with Bitcoin losing 8.82% and Ethereum falling 11.16%. The blue-chip currencies have sunk to their multi-month lows.
Cryptocurrency liquidations hit $222 million in the last 24 hours, according to Coinglass, with short position traders bearing the brunt of the losses.
Meanwhile, a rise in Bitcoin to $90,000 could trigger additional short liquidations totaling …
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