NVDA - Bitcoin Ethereum Dogecoin Stay Rangebound On Mt. Gox Anxiety: King Crypto Must Reclaim $64K For Sentiment To Flip Bullish Says Analyst | Benzinga
Leading cryptocurrencies remained rangebound on Monday as investors braced for a week in which defunct exchange Mt.Gox will begin unloading a massive amount of coins onto the market.
What Happened: Bitcoin made a sharp move past $63,000, its highest in a week. However, bulls faced strong resistance soon after, causing the price to bend to $62,000s.
Ethereum also failed to sustain its gains made early in the morning, retreating to the $3,400 region.
About $99.83 million locked in futures positions was wiped out in the last 24 hours, with an almost equal number of bullish and bearish bets getting liquidated.
Bitcoin's Open Interest dropped 1.16% in the last 24 hours. A price drop, coming alongside a drop in OI, is typically interpreted as a potential trend reversal, i.e., a bullish sentiment.
This was further exemplified by an increase in bullish leveraged bets in the last ...