Leading cryptocurrencies plunged alongside stocks on Wednesday as the Federal Reserve said the escalating Middle East conflict could push inflation higher.
Cryptocurrency
24-Hour Gains +/-
Price (Recorded at 9:25 p.m. ET)
Bitcoin (CRYPTO: BTC)
-4.07%
$70,979.99
Ethereum (CRYPTO: ETH)
-5.98%
$2,189.10
XRP (CRYPTO: XRP)
-4.10%
$1.45
Solana (CRYPTO: SOL)
-4.92%
$90.04
Dogecoin (CRYPTO: DOGE)
-5.46%
$0.09495
‘Extreme Fear’ Returns
Bitcoin dived below $71,000, reversing a rally that pushed it up to $76,000. Ethereum’s decline was steeper, pulling the second-largest cryptocurrency back to the $2,100 zone.
Shares of Strategy Inc. (NASDAQ:MSTR) and Coinbase Global Inc. (NASDAQ:COIN) closed down 6.47% and 3.78%, respectively.
Over $450 million was liquidated from the cryptocurrency market over the past 24 hours, with $380 million in bullish long bets alone wiped out, according to Coinglass data.
Open interest in Bitcoin futures dipped 3.75% in the last 24 hours. However, derivatives traders on Binance bought this dip, opening more long positions versus shorts.
“Extreme Fear” sentiment returned to the market after a brief reprieve, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
Cryptocurrency (Market Cap>$100 M)
Gains +/-
Price (Recorded at 9:25 p.m. ET)
River (RIVER)
+18.64%
…Full story available on Benzinga.com
