Bitcoin, Ethereum, XRP Slide Further, Dogecoin Flat As Crypto Market Shivers In ‘Extreme Fear’ — Analyst Sees Hope For ‘Short-Term Relief Rally’
Leading cryptocurrencies plunged deeper on Wednesday
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 8:30 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -3.16% | $76,338.32 |
| Ethereum (CRYPTO: ETH) |
-3.47% | $2,267.32 |
| XRP (CRYPTO: XRP) | -1.28% | $1.59 |
| Solana (CRYPTO: SOL) | -4.43% | $99.23 |
| Dogecoin (CRYPTO: DOGE) | +0.05% | $0.1076 |
Post-Trump Rally Reversed
Bitcoin tumbled below $73,000 to touch its lowest level since November 2024, wiping nearly all of the gains since President Donald Trump assumed office.
Ethereum sank to a nine-month low of $2,100, while Dogecoin traded flat, helped by Elon Musk’s latest endorsement.
Meanwhile, shares of cryptocurrency-related companies, including Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR), closed down 4.56% and 1.97%, respectively.
Over $750 million was liquidated from the market in the last 24 hours, according to Coinglass, with a whopping $550 million in long liquidations alone.
Bitcoin’s open interest fell 2.85% to $50.84 billion. At its peak in October 2024, the open interest was over $94 billion.
The “Extreme Fear” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at … |
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