Bitcoin, Dogecoin Cool Down, Ethereum Gains As Stocks Reverse On Q3 GDP Numbers: Analyst Predicts BTC At $80K In November, $90K-100K By December

The cryptocurrency market frenzy paused Tuesday as Bitcoin remained rangebound below its all-time high.

Cryptocurrency Gains +/- Price (Recorded at 8:45 p.m. EDT)
Bitcoin (CRYPTO: BTC) -0.27% $72,106.26
Ethereum (CRYPTO: ETH)
               
+1.32% $2,656.70
Dogecoin (CRYPTO: DOGE)           -3.54% $0.1683

What Happened: The world’s largest cryptocurrency almost set a new all-time high Monday before traders started to take profits.

On Tuesday, Bitcoin was glued in the $72,000 region, hitting an intraday high of $72,905 early in the evening.

Ethereum reversed course after breaking $2,700 briefly in the early morning hours.

Total cryptocurrency liquidations exceeded $100 million over the last 24 hours, with $62 million in bullish leveraged bets getting wiped out.

Bitcoin’s Open Interest rose 0.20% in the last 24 hours, in line with the sideways movement of the spot price.

Additionally, more than 61% of all derivatives traders with open positions were short on Bitcoin, according to the Long/Short Ratio.

“Extreme Greed” engulfed the market, as per the Cryptocurrency Fear and Greed Index, raising fears of a potential correction.

Top Gainers (24-Hours)

Cryptocurrency Gains +/- Price (Recorded …

Full story available on Benzinga.com

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