Bitcoin recovered strongly from its morning fall as cryptocurrency investors prepared for Thanksgiving.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -0.05% | $97,873.88 |
| Ethereum (CRYPTO: ETH) |
-1.93% | $3,349.58 |
| Dogecoin (CRYPTO: DOGE) | -3.03% | $0.4231 |
What Happened: The leading cryptocurrency fell below $96,000 during the afternoon, only to recover losses as the evening progressed.
On Friday, the asset nearly reached the record $100,000 level before stalling due to a strong pushback from the bears.
Ethereum, the second-largest cryptocurrency by market capitalization, failed to replicate its senior token’s comeback, ending the 24-hour period down by nearly 2%.
The sharp correction caused mayhem in the cryptocurrency derivatives market, with over $511 million getting liquidated in the last 24 hours. About $380 million in leveraged long bets were wiped out.
Bitcoin’s Open Interest (OI) dropped marginally by 0.20%, while the number of short positions for the coin surged dramatically against …
Full story available on Benzinga.com