Leading cryptocurrencies jumped on Wednesday, though analysts view the uptick as a relief bounce rather than a momentum shift.
Cryptocurrency
24-Hour Gains +/-
Price (Recorded at 8:15 p.m. ET)
Bitcoin (CRYPTO: BTC)
+4.32%
$68,547.48
Ethereum (CRYPTO: ETH)
+8.31%
$2,062.69
XRP (CRYPTO: XRP)
+5.16%
$1.43
Solana (CRYPTO: SOL)
+10.30%
$88.94
Dogecoin (CRYPTO: DOGE)
+8.95%
$0.1010
Crypto Market Rebounds
Bitcoin enjoyed a relief bounce, nearing reclaiming $70,000, while trading volume jumped 34% over the last 24 hours.
Ethereum also broke past the $2,000 resistance, accompanied by a 47% jump in 24-hour volumes, while XRP and Dogecoin were up 5.16% and 8.95%.
Shares of cryptocurrency-related companies, including Strategy Inc. (NASDAQ:MSTR) and Coinbase Global Inc. (NASDAQ:COIN), closed up 8.86% and 13.52%, respectively.
Over $580 million was liquidated from the market in the last 24 hours, according to Coinglass, predominantly wiping out bearish short positions.
Bitcoin’s open interest rose 3.44% over the past 24 hours, although whale sentiment across key exchanges, including OKX, Bybit and Binance, remained bearish.
Despite the uptick, “Extreme Fear” sentiment persisted in the market, according to the Crypto Fear & …Full story available on Benzinga.com
