Bitcoin pulled back from near-new highs Tuesday, while stocks rallied on Alphabet Inc.’s (NASDAQ:GOOGL) better-than-expected third-quarter earnings.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. EDT) |
| Bitcoin (CRYPTO: BTC) | +3.66% | $72,287.07 |
| Ethereum (CRYPTO: ETH) |
+2.31% | $2,625.49 |
| Dogecoin (CRYPTO: DOGE) | +7.15% | $0.1757 |
What Happened: The world’s largest cryptocurrency was within touching distance of making history as it flew to $73,577, just $160 away from the peak established earlier in March. However, the advance was halted as investors started cashing out.
With the latest rally, Bitcoin’s October gains jumped to 14.26%, as the month delivered on its promise of being one of the most rewarding in the market.
Ethereum also pulled back after scaling an intraday high of $2,680.
The rally liquidated nearly $185 million in leveraged short positions over the last 24 hours, with total cryptocurrency liquidations surging to $257 million.
Bitcoin’s Open Interest soared 5.11% to $43.17 billion in the last 24 hours.
The number of long positions held by whale investors on cryptocurrency exchange Binance exceeded the number of shorts by a factor of 1.42
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