The cryptocurrency market slid further Tuesday as market sentiment remained weak amid regulatory potshots taken at cryptocurrency entities.
What Happened: Bitcoin, the market bellwether, sank to $62,000, following a 1.63% drop in the last 24 hours.
The price drop eroded more than $167 million worth of active positions from the market in the last 24 hours, with long liquidations amounting to 77% of the total.
The second-largest cryptocurrency, Ethereum, which shed 2.15% in the 24 hours, saw $43.48 million in liquidations, followed by Bitcoin with $40.80 million in its positions getting recked.
Despite the negative price action, the number of traders taking long positions on Bitcoin surged in the last 24 hours, exceeding the ones shorting the coin by a ratio of 1.11:1.
The negative sentiment has lingered after brokerage firm Robinhood Markets Inc (NASDAQ:HOOD) was slapped with a Wells Notice from the SEC, the latest cryptocurrency company to get on the radar of U.S. regulators.
Top Gainer (24 Hour)
Cryptocurrency Gains +/- Price (Recorded 8:45 p.m. EDT) AIOZ Network (AIOZ) +9.73% $0.8088 Ethena (ENA) +5.26% $0.9429 Chiliz (CHZ) +3.57% $0.1275
The global cryptocurrency market cap now stands at $2.3 trillion, declining by 1.84% in 24 hours.
To the contrary, stocks moved ...
Dogecoin Sink Further As Regulatory Woes Weigh Down Investors: Analyst Says Majority Top Market Cap Cryptos In 'Slight Buy Zones'>Full story available on Benzinga.com