Leading cryptocurrencies dived, while stocks closed at record highs on Tuesday as Middle East tensions remained elevated.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:25 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.26% | $75,755.83 |
| Ethereum (CRYPTO: ETH) |
-1.14% | $2,072.15 |
| XRP (CRYPTO: XRP) | -1.01% | $1.32 |
| Solana (CRYPTO: SOL) | -0.71% | $83.75 |
| Dogecoin (CRYPTO: DOGE) | -0.35% | $0.1013 |
Bears Dominate Crypto Market
Bitcoin sank below $76,000, with trading volume soaring 76% in the last 24 hours. Selling pressure also increased for Ethereum, while XRP and Dogecoin stalled.
Cryptocurrency-related stocks gained, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 0.025% and 1.69%, respectively.
Over $300 million was liquidated from the cryptocurrency market in the past 24 hours, with $200 million in long position erased, according to Coinglass data.
Bitcoin’s open interest jumped 4% over the last 24 hours. An increase in Open Interest alongside a drop in the spot price typically indicates that short sellers are entering new positions, which in turn reflects high bearish sentiment.
“Extreme Fear” …
