Leading cryptocurrencies nosedived, on Tuesday, as the latest economic data poured cold water on interest rate-cut expectations.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:15 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -4.76% | $97,056.00 |
| Ethereum (CRYPTO: ETH) |
-7.59% | $3,402.50 |
| Dogecoin (CRYPTO: DOGE) | -9.40% | $0.3507 |
What Happened: Bitcoin fell to $96,200 late afternoon before dip-buying propelled the leading cryptocurrency up a few notches. This comes a day after it hit $100,000 after a gap of more than two weeks.
Ethereum’s decline was steeper as the second-largest cryptocurrency lost nearly 8% of its value in 24 hours, plunging to $3,880.
Cryptocurrency liquidations hit $559 million in the last 24 hours, the highest since Dec. 20. More than $500 million in long liquidations was witnessed.
Top traders on Binance seemed to be buying the dip, as over 63% of them were long on Bitcoin, compared to 36% shorting the cryptocurrency.
About $555 million in short positions risked liquidation if Bitcoin rebounds to $100,000.
The slump cooled the sentiment from “Extreme Greed” to “Greed,” according to the Crypto Fear & Greed Index.
Top Losers (24-Hours)
Full story available on Benzinga.com