Leading cryptocurrencies slumped alongside markets on Tuesday, while gold surged to fresh highs, as the U.S. government shutdown entered its seventh day.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -2.17% | $122,010.53 |
| Ethereum (CRYPTO: ETH) |
-4.13% | $4,486.78 |
| XRP (CRYPTO: XRP) | -3.73% | $2.87 |
| Solana (CRYPTO: SOL) | -4.09% | $222.04 |
| Dogecoin (CRYPTO: DOGE) | -5.65% | $0.2498 |
Market Cools Down
Bitcoin fell below $121,000, ending a week-long rally that had sent it to record highs. Trading volume surged 15% in the last 24 hours, suggesting high selling pressure.
Similarly, Ethereum retreated from the mid $4,700s to below $4,500, while volumes jumped 60%. XRP and Solana also recorded sharp declines.
In the past 24 hours, 167,851 traders were liquidated, with total cryptocurrency liquidations at $621.29 million, according to Coinglass. Nearly $470 million in bullish longs were wiped out.
Bitcoin’s open interest fell 3.33% to $90.81 billion, while more than 50% of Binance futures traders remained bearish on the asset, according to the Long/Short ratio.
The market’s “Greed” sentiment weakened, …