Bitcoin Dips After Hot GDP Print; Ethereum, XRP, Dogecoin Also Fall: Analyst Explains Why You Shouldn’t Expect ‘Special’ Moves From BTC In Holidays
Leading cryptocurrencies declined, while the stock market closed higher on Tuesday, as the U.S. economy recorded its fastest growth in two years.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:25 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.06% | $87,619.56 |
| Ethereum (CRYPTO: ETH) |
-1.69% | $2,968.03 |
| XRP (CRYPTO: XRP) | -1.46% | $1.87 |
| Solana (CRYPTO: SOL) | -2.19% | $123.57 |
| Dogecoin (CRYPTO: DOGE) | -2.03% | $0.1300 |
Crypto Market Struggles For Momentum
Bitcoin consolidated between $86,500 and $88,500, even as trading volume for the leading cryptocurrency rose 20% over the last 24 hours.
Ethereum meandered around $3,000, as bulls waited for a decisive breakout above the crucial level. XRP and Dogecoin also traded in the red.
Shares of cryptocurrency-linked stocks Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NASDAQ:COIN) closed down 3.92% and 4.21%, respectively, during the regular trading session.
Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. Find out more about MSTR and BMNR here.
Over $250 million was liquidated from the cryptocurrency market in the last 24 hours, according to Coinglass, with long position traders bearing the brunt of the losses.
That said, about $1.80 billion worth of short positions risked …
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