Leading cryptocurrencies extended losses alongside the stock market on Wednesday, as investors brace for crucial consumer inflation data.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 8:25 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -2.14% | $66,145.05 |
| Ethereum (CRYPTO: ETH) |
-1.30% | $1,939.34 |
| XRP (CRYPTO: XRP) | -2.03% | $1.35 |
| Solana (CRYPTO: SOL) | -2.10% | $78.45 |
| Dogecoin (CRYPTO: DOGE) | +0.95% | $0.09253 |
Painful February Continues
Bitcoin oscillated between $65,000 and $68,000, while a low 24-hour trading volume suggested a lack of strong buying interest to push the price higher. Ethereum briefly broke below its support at $1,900, but quickly reversed.
The two blue-chip coins have had it rough in February, with Bitcoin declining 16% already, and Ethereum down more than 20%.
Shares of cryptocurrency-related companies, including Strategy Inc. (NASDAQ:MSTR) and Coinbase Global Inc. (NASDAQ:COIN), closed down 2.44% and 7.90%, respectively.
Over $250 million was liquidated from the market in the last 24 hours, according to Coinglass, with $179 million in bullish long bets alone wiped out.
Bitcoin’s open interest slid 2.37% over the past 24 hours, although majority of whale and retail investors on Binance …