Leading cryptocurrencies lost their early gains on Thursday as investors awaited the release of crucial inflation data.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +0.03% | $104,582.18 |
| Ethereum (CRYPTO: ETH) |
+3.95% | $3,267.77 |
| Dogecoin (CRYPTO: DOGE) | +0.05% | $0.3308 |
What Happened: Bitcoin broke through $106,000 in the morning before falling back to the $104,000 region. Popular dog-themed meme coin Dogecoin witnessed a similar price pattern.
Ethereum, on the other hand, sustained its gains, rising nearly 4% in the last 24 hours.
About $86 million in short bets were wiped out in the last 24 hours, out of a total of $143 million in cryptocurrency liquidations.
Interestingly, traders placing short bets on Bitcoin rose against those gunning for price increases, according to the Long/Short Ratio.
That said, if Bitcoin reclaims its all-time high, more than $530 million in short positions will be liquidated.
“Extreme Greed” emotion dominated the market, according to the reading on the Crypto Fear & Greed Index, sparking concerns of a further correction.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 … |
Full story available on Benzinga.com