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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