NVDA - Bitcoin Retraces Ethereum Dogecoin Inch Higher As Market Positions For Ether Spot ETF Approvals: Analyst Says This Indicator Flashing A 'Buy Signal' On King Crypto In Anticipation Of Rebound | Benzinga
The cryptocurrency market's bull run decelerated Tuesday, while an optimistic countdown to Ethereum spot ETF and former president Donald Trump's pro-crypto moves kept investors' hopes high.
What Happened: Ethereum, the second-largest cryptocurrency, bounced above $3,800 during the day, maintaining the positive momentum spurred by spot ETF approval rumors. Bitcoin corrected on profit-taking by investors, dipping below $71,000.
Ethereum's Open Interest rose further 3.35% to break past $15 billion, a new all-time high.
Liquidations worth $171 million were witnessed in the last 24 hours, with nearly equal amounts of longs and shorts getting wiped out. Ethereum led the chart with more than $57 million in liquidations.
The deceleration impacted derivatives traders' sentiments, as positions longing Ethereum and Bitcoin dropped in comparison to shorts over the last 24 hours.
A report predicted an Ether spot ETF ...