Leading cryptocurrencies mounted losses on Thursday as investors remained cautious ahead of the release of a crucial jobs report
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -2.54% | $92,600.34 |
| Ethereum (CRYPTO: ETH) |
-3.22% | $3,220.17 |
| Dogecoin (CRYPTO: DOGE) | -5.10% | $0.3237 |
What Happened: Bitcoin fell to an intraday low of $91,220 late afternoon before recouping some losses by evening. The leading cryptocurrency has declined nearly 10% since the highs of $102,000 earlier in the week.
The report of the Justice Department getting approval to sell $6.5 billion in Bitcoin and on-chain movements created panic in the market, although it was yet to be confirmed the sale happened.
The extended slump triggered a fresh wave of liquidations, with nearly $285 million in upside bets getting evaporated in the last 24 hours.
That said, more than 68% of traders on Binance were betting on Bitcoin’s rebound, according to the Long/Short ratio.
A reversal to $100,000 will liquidate nearly $780 million in short positions.
The market sentiment slipped into the “Neutral” zone from “Greed,” according to the Crypto Fear & Greed Index, as traders lowered risk …
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