Bitcoin Bleeds After Strategy’s Sell-Off, Ethereum, XRP, Dogecoin Also Sink: Analyst Points Out ‘Meaningful’ Stress, But BTC Bottom Still Not In
Leading cryptocurrencies crashed on Tuesday as geopolitical uncertainty and Strategy Inc.‘s (NASDAQ:MSTR) sale of Bitcoin hammered sentiment.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:20 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -6.15% | $66,829.58 |
| Ethereum (CRYPTO: ETH) |
-6.65% | $1,860.68 |
| XRP (CRYPTO: XRP) | -4.84% | $1.22 |
| Solana (CRYPTO: SOL) | -7.47% | $74.74 |
| Dogecoin (CRYPTO: DOGE) | -7.70% | $0.09277 |
Crypto Market In Blood Red
Bitcoin nearly fell below $66,000, as the apex cryptocurrency’s decline triggered an aggressive sell-off across the broader market. Ethereum plunged to a nearly three-month low, while XRP and Dogecoin also posted sharp declines.
The drop accelerated after Strategy reported selling BTC worth $2.5 million, flipping from being Bitcoin’s largest hoarder to a seller.
A whopping $1.78 billion was liquidated from the cryptocurrency market in the last 24 hours, with $1.59 billion in long positions erased, according to Coinglass data.
Bitcoin’s open interest dropped 3.22% over the last 24 hours. Curiously, Binance derivatives traders with open BTC positions were betting on the cryptocurrency’s increase.
Moreover, “Extreme Fear” sentiment deepened, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at … |
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