BTC - Bitcoin Ethereum Dogecoin Extend Losses As Market Remains Pessimistic: Analyst Forecasts King Crypto's Plunge Before A Rise To $98000 By October | Benzinga
Leading cryptocurrencies extended last week's declines on Monday, as pessimistic projections on interest rate cuts kept the market under pressure.
What Happened: Bitcoin, slipped to the $65,000 zone, erasing gains from its advances to $71,000 earlier in the month. The second-largest cryptocurrency, Ethereum, cracked harder as the date for its spot ETF approvals was moved up to July 2.
The decline triggered liquidations of $348 million in the last 24 hours, with as many as 152,040 traders getting liquidated. Long liquidations alone accounted for $300 million.
The slump also poured cold water on the speculative market, as Bitcoin's Open Interest fell 2.68% in the last 24 hours. A decline in OI, alongside a price decline, confirms a downward trend.
Moreover, the number of traders taking short positions on Bitcoin surged vis-à-vis those taking bullish positions on the asset, according to the Long/Short Ratio.
Top Gainer (24-Hours)
Cryptocurrency Gains +/- Price (Recorded at 9:00 p.m. EST)
aelf ...