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% | … |