BTC - Bitcoin Ethereum Dogecoin Slip Ahead Of Fed's Interest Rate Decision: Analyst Says Correction Usual For King Crypto Before Uptrend Resumes | Benzinga
Leading cryptocurrencies slid sharply on Tuesday as investors' risk appetite tapers ahead of key inflation data and the Federal Reserve’s interest rate decision.
What Happened: Bitcoin tumbled to lows of $66,100 earlier in the day before making a slight recovery to $67,100. Ethereum dipped below $3,500 for the first time in three weeks.
The downtrend triggered liquidations worth $261 million in the last 24 hours, with about 100,134 traders getting "rekted." Around $224 million in long positions were wiped out.
Speculative interest cooled down, as the Open Interest in Bitcoin futures dropped 3% in the last 24 hours. A fall in price, coupled with a fall in OI, confirms a downtrend.
Moreover, the number of traders betting on Bitcoin's price increase dropped further vis à vis those looking to profit from its decline, indicating a bearish sentiment.
Top Gainer (24 Hour)
Cryptocurrency Gains +/- Price (Recorded 8:30 p.m. EDT)
Ondo (ONDO) +4.72% $1.26
Pepe (PEPE) +4.66% $0.00001271
UNUS SED LEO (INJ) +1.10% $5.92
The global cryptocurrency market cap is $2.44 trillion, ...