Leading cryptocurrencies wobbled in ranges Tuesday as Federal Reserve Chair Jerome Powell's dovish comments failed to heighten investors' risk appetite.
What Happened: Bitcoin slipped further to the early $62,000s as defunct exchange Mt.Gox's repayment plan looms large. Ethereum also pulled back to the early $3,400 zone.
The muted trading activity could be due to the Fourth of July holiday effect.
In the past 24 hours, 29,929 traders were liquidated, with the total liquidations coming in at $64.32 million. Long liquidations amounted to $39.74 million.
Despite the contraction in price, Bitcoin's Open Interest rose 2.13% in the last 24 hours, indicating that new short positions were opened. This is construed as a bearish signal.
These observations were backed by a sharp spike in the number of shorts taken for Bitcoin against the longs, as indicated by the Longs/Shorts Ratio.
The Cryptocurrency Fear & Greed Index flashed ...