Leading cryptocurrencies fell Thursday after a festive surge on Christmas gave way to profit-taking.
Cryptocurrency
Gains +/-
Price (Recorded at 7:30 p.m. ET)
Bitcoin (CRYPTO: BTC)
-3.69%
$95,658.87
Ethereum (CRYPTO: ETH)
-4.37%
$3,338.32
Dogecoin (CRYPTO: DOGE)
-6.97%
$0.3116
What Happened: After teasing the $100,000 mark on Christmas, Bitcoin witnessed a steep decline, falling to an intraday low of $95,170.
Ethereum dropped to the $3,300 region following the to-and-from movement between $3,440 and $3,510.
Trading volumes for both currencies rose, indicating that traders returned from their Christmas break to book profits.
Over $270 million was liquidated from the market in the last 24 hours, with long liquidations accounting for $200 million.
Bitcoin’s Open Interest increased by 0.97% in the last 24 hours. The majority of them were short positions, as evidenced by a drop in the Long/Short Ratio.
That said, nearly $760 million in short positions risked liquidation if Bitcoin rebounds to $100,000.
The market sentiment was “Greed,” according to the Crypto Fear & Greed Index.
Top Gainers (24-Hours)
Full story available on Benzinga.com
