Leading cryptocurrencies sold off Sunday evening as President Donald Trump declined to rule out the possibility of a recession.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -7.19% | $80,182.57 |
| Ethereum (CRYPTO: ETH) |
-9.24% | $2,004.60 |
| Dogecoin (CRYPTO: DOGE) | -13.00% | $0.1677 |
What Happened: Bitcoin tumbled to $80,000 overnight, plunging over 7% in the last 24 hours. This was the steepest drop for the apex cryptocurrency since it fell below $80,000 ten days ago.
Bitcoin’s decline sent ripples through the rest of the market, with leading assets like Ethereum and Dogecoin going blood red just before the start of a new trading week.
Over $615 million was liquidated from the cryptocurrency market in the last 24 hours, with $540 million in upside bets getting wiped out.
Bitcoin’s Open Interest fell 2.62% in the last 24 hours, while Ethereum witnessed a 5.57% decline in money locked in its derivatives market.
That said, traders were buying the dip as the number of long positions for Bitcoin dramatically surged vis-à-vis shorts, according to the Long/Short Ratio.
The Crypto Fear and Greed Index moved back into the “Extreme Fear” zone, signaling a bearish sentiment.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Story (IP) | +4.51% | $4.99 |
| Tether Gold (XAUt) | +0.11% | $2,908.65 |
The global cryptocurrency market capitalization stood at $2.65 trillion, plunging 6.74% in the …
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