Bitcoin, Ethereum, XRP, Dogecoin Extend Losses Amid Trump’s Hawkish Iran War Address: Analyst Says BTC Could Be In For ‘Final Shakeout’
Leading cryptocurrencies fell further on Thursday, while oil prices surged as investors feared Iran conflict could escalate after President Donald Trump’s address.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:20 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.71% | $66,760.21 |
| Ethereum (CRYPTO: ETH) |
-3.85% | $2,052.15 |
| XRP (CRYPTO: XRP) | -2.19% | $1.31 |
| Solana (CRYPTO: SOL) | -1.84% | $79.33 |
| Dogecoin (CRYPTO: DOGE) | -1.50% | $0.09032 |
Crypto Sees Increased Bearish Pressure
Bitcoin wobbled in the range between $66,000 and $67,000 after retreating from the $68,000+ territory on Wednesday night. Ethereum failed to break over $2,070 amid heavy resistance from the bears. Trading volume for the second-largest cryptocurrency dipped 14% over the last 24 hours.
Shares of Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closed down 2.95% and 1.22%, respectively.
Nearly $400 million were liquidated in the past 24 hours, predominantly bullish long positions, according to Coinglass data.
Notably, over $500 million in Bitcoin short positions on Binance risked liquidation if the apex cryptocurrency reclaimed $70,000.
Open interest in Bitcoin futures rose 1.47% in the last 24 hours. A rise in open interest with a decline in spot price usually implies that short bets are being built up.
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