Leading cryptocurrencies moved sideways on Tuesday amid signals that the Ukraine-Russia conflict could be coming to an end.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -0.92% | $83,016.00 |
| Ethereum (CRYPTO: ETH) |
+0.85% | $1,942.30 |
| Dogecoin (CRYPTO: DOGE) | -2.66% | $0.1682 |
What Happened: Bitcoin corrected to an intraday low of $81,179.99 in the early morning hours but staged a recovery past $83,000 overnight after President Donald Trump‘s call with Russian President Vladimir Putin signaled a Ukraine ceasefire. Ethereum also recouped losses from the morning hours, rising to $1,945.
More than $214 million was liquidated from the market in the last 24 hours, with bullish bets accounting for over $140 million. That said, about $376 million in shorts risked liquidation if Bitcoin reclaimed $85,000.
Additionally, if Bitcoin reclaims $87,000, a further $500 million in shorts would be wiped out.
Bitcoin’s Open Interest fell 0.89% in the last 24 hours, mirroring the spot price trajectory. More than 50% of Bitcoin derivatives traders were short on …
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