Leading cryptocurrencies traded flat, while stocks fell further on Wednesday as President Donald Trump authorized tapping the strategic reserve to lower oil prices.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:15 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.22% | $69,912.33 |
| Ethereum (CRYPTO: ETH) |
+0.48% | $2,046.98 |
| XRP (CRYPTO: XRP) | -0.73% | $1.37 |
| Solana (CRYPTO: SOL) | +0.18% | $86.28 |
| Dogecoin (CRYPTO: DOGE) | -1.85% | $0.09276 |
Crypto Market Shifts Sideways
Bitcoin surged past $71,000 but met strong resistance shortly after, dropping back under $70,000 overnight. Trading volume fell 16% in the last 24 hours. Ethereum wobbled in the $2,000 region amid subdued trading volumes
Nearly $180 million was liquidated from the cryptocurrency market over the past 24 hours, representing a notable decline from the previous day. Bearish short positions worth $102 million were wiped out.
Moreover, about $490 million in Bitcoin shorts risked liquidation if the apex cryptocurrency rises to $73,000.
Open interest in Bitcoin futures spiked 1.51% in the last 24 hours. Rising open interest alongside flat price action signals a consolidation phase where market participants are actively building positions, but there is no clear consensus on direction.
Meanwhile, Binance derivatives traders, including both …