Leading cryptocurrencies remained range-bound over the weekend, with bears continuing to provide tough resistance to the market’s drive for sustained gains.
What Happened: Bitcoin, the largest cryptocurrency by market cap, meandered in the $61,000 zone, after witnessing a sharp correction from $63,000 last Friday. The apex crypto finished last week with losses of more than 4%.
The sideways movement was reflected in the speculative interest for the coin, as Open Interest (OI) in Bitcoin futures saw a tepid 0.32% increase in the 24-hour period.
About $56 million in positions was wiped out in the last 24 hours, with nearly equal amounts of longs and shorts liquidated.
Ethereum and king of memecoins, Dogecoin, had a more difficult time, shedding 6% and 12% over the week.
The Cryptocurrency Fear & Greed Index flashed "Greed" ahead ...