Leading cryptocurrencies diverged from the stock market on Thursday, even as investors dissected reports of a ceasefire between the U.S. and Iran.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:15 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.91% | $73,708.31 |
| Ethereum (CRYPTO: ETH) |
-0.61% | $2,011.14 |
| XRP (CRYPTO: XRP) | +0.57% | $1.31 |
| Solana (CRYPTO: SOL) | -0.29% | $82.27 |
| Dogecoin (CRYPTO: DOGE) | -0.50% | $0.09985 |
Crypto Market Stagnates
Bitcoin hit a six-week low, sliding to $72,500 before bouncing back above $73,000 by evening. Trading volume jumped 17% in the last 24 hours. Ethereum dived below $2,000 in the early trading hours before rebounding later in the day as selling pressure remained high.
Cryptocurrency-related stocks rose, with Coinbase Global Inc. (NASDAQ:COIN) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 4.87% and 2.28%, respectively.
Over $600 million in bullish long positions was wiped out from the cryptocurrency market in the past 24 hours, according to Coinglass data.
Bitcoin’s open interest rose 0.87% over the last 24 hours. An increase in open interest alongside a drop in spot price typically signals a short build-up, meaning traders are actively entering new short positions.
Top Gainers …
