BTC - Bitcoin Gains Ethereum And Dogecoin Trade Lower As Market Undergoes Consolidation: King Crypto 'Breakout' This Early Not Favored By History Says Analyst | Benzinga
The cryptocurrency market remained steady on Thursday, as blue-chip coins failed to force a major upward breakout.
What Happened: Bitcoin, the world's largest cryptocurrency, breached its previous all-time high of $69,000 but faced stiff resistance soon after. The King Crypto has wiggled in the $67,000–$68,000 range this week.
Ethereum failed to hold on to $3,800, despite positive developments around listing of spot ETFs.
The Open Interest in Bitcoin futures dropped 1.46% in the last 24 hours. The drop, coming alongside a rise in the spot price, is a potentially bearish signal.
That said, the number of traders opening long positions surged in comparison to those shorting the asset in the last 24 hours.
The Cryptocurrency Fear & Greed Index continued to flash "Greed" as of this writing, implying a significant degree of FOMO in the market.
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