Leading cryptocurrencies saw a decline on Wednesday, extending the run of losses that started as the week began.
What Happened: The world's largest cryptocurrency, Bitcoin, dipped below $62,000 during the day, taking its week-to-date losses to over 6%. Popular meme coin Dogecoin witnessed a steeper decline, down more than 14% since the start of the week.
The price drop triggered liquidations worth more than $140 million in the 24-hour timeframe, with nearly $100 million in long positions getting wiped out. Bitcoin liquidations topped $37 million.
Surprisingly, the number of traders taking bullish long positions on Bitcoin spiked dramatically, exceeding those gunning for Bitcoin's price decline.
Bitcoin's Fear & Greed Index flashed "Greed," reflecting a degree of FOMO in the market, and a potential surge in buying pressure.
Top Gainer (24 Hour)
Cryptocurrency Gains +/- Price (Recorded 8:45 p.m. EDT) Kaspa (AIOZ) +8% $0.1208 THORChain (RUNE) +6.76% $5.75 Toncoin (TON) +3.67% $5.88
The global cryptocurrency market cap stands at $2.27 trillion, declining by 1.34% in 24 hours.
The U.S. equity market was a mixed bag on Wednesday. The Dow Jones ...
Dogecoin Continue To Slip: Analyst Says King Crypto Network Fundamentals Indicate 300% Upside, Could Top Between $250K-$275K>Full story available on Benzinga.com