Leading cryptocurrencies plunged on Monday, while stocks extended their rally as President Donald Trump intervened to calm tensions between Israel and Hezbollah in Lebanon.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:15 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -3.00% | $71,276.47 |
| Ethereum (CRYPTO: ETH) |
-0.40% | $1,995.49 |
| XRP (CRYPTO: XRP) | -3.23% | $1.28 |
| Solana (CRYPTO: SOL) | -1.81% | $80.80 |
| Dogecoin (CRYPTO: DOGE) | -0.03% | $0.1005 |
‘Extreme Fear’ Returns
Bitcoin dived below $71,000 for the first time since mid-April as trading volume jumped 150% over the last 24 hours. Ethereum continued to face stiff resistance at $2,000, as selling pressure intensified.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:COIN) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 5.85% and 2.18%, respectively.
Over $600 million was liquidated from the cryptocurrency market in the last 24 hours, with $500 million in long positions alone wiped out, according to Coinglass data.
Bitcoin’s open interest rose 043% over the last 24 hours. A drop in price accompanied by an increase in open interest typically indicates a short build-up, meaning that new traders are actively entering the market by selling or shorting …
