Leading cryptocurrencies rose further on Wednesday as cooler inflation data boosted risk appetite.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +1.32% | $83,916.13 |
| Ethereum (CRYPTO: ETH) |
-0.45% | $1,905.35 |
| Dogecoin (CRYPTO: DOGE) | +4.63% | $0.1723 |
What Happened: Bitcoin surpassed $84,000 in the early morning hours, but profit-taking swiftly reversed the gains. The leading cryptocurrency progressively increased and stabilized in the $83,000 region.
The day saw video-sharing platform Rumble Inc. (NASDAQ:RUM) announcing a $17 million Bitcoin purchase for its Treasury.
Ethereum remained choppy in the $1,850-$1,950 zone as holders awaited a breakout above $2,000. The second-largest cryptocurrency’s market dominance fell further to 8.5%, while Bitcoin maintained a 61.2% share.
Long liquidations hit $150 million, while $119 million in downside bets were erased in the last 24 hours. About $500 million in shorts risked liquidation if Bitcoin rallied to $86,800.
Bitcoin’s Open Interest rose 1.44% over the last 24 hours. Interestingly, the number of traders positioned short on the apex digital asset surpassed longs, according …
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