BTC - Bitcoin Ethereum Dogecoin Decline Amid Tech Stock Bloodbath: Analyst Says King Crypto 'Not Quite Ready Just Yet' For This Price Level | Benzinga
Leading cryptocurrencies retreated Wednesday as investors booked profits on recent advances.
What Happened: Bitcoin temporarily breached $66,000 during Asia trading hours but failed to sustain its gains as markets opened in Europe and the U.S. Profit-taking pulled King Crypto to the mid-$64,000s.
Ethereum also dipped below $3,500, even as the stage was set for the final approval of ETFs tracking the price of the second-largest cryptocurrency.
In the past 24 hours, liquidations worth $125.76 million were recorded, with long liquidations accounting for 68% of the total.
Bitcoin's Open Interest dropped by 1.97% in the last 24 hours, indicating forced closing of longs.
That said, the number of traders placing bullish leveraged bets on Bitcoin exceeded those taking downside bets, as seen by the Longs/Shorts Ratio.
The Cryptocurrency Fear & Greed Index dropped to 61 due to the pullback. However, the dominant market sentiment remained one of “Greed.”
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