Leading cryptocurrencies moved sideways Wednesday as Federal Reserve Chair Jerome Powell signaled slower growth and hotter inflation after the central bank left interest rates unchanged.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:50 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.15% | $104,630.33 |
| Ethereum (CRYPTO: ETH) |
-0.27% | $2,515.68 |
| Dogecoin (CRYPTO: DOGE) | +0.37% | $0.1698 |
What Happened: Bitcoin consolidated in the $104,000-$105,000 range, with trading volumes plummeting 11% in the last 24 hours.
Similarly, Ethereum fluctuated around $2,500, with an 18% volume decline indicating a lack of interest among traders.
Both assets have stagnated in June after their May surges, with BTC up 0.23% and ETH up 0.03%.
Over $224 million was liquidated from the cryptocurrency market in the last 24 hours, with long position traders bearing the brunt of the losses.
Bitcoin’s Open Interest dipped 1.24% in the last 24 hours, while ETH recorded a 2.35% fall in funds locked in its derivatives contracts.
Meanwhile, the percentage of Binance traders with long BTC positions fell in the last 24 hours, according to the Long/Short ratio.
The market sentiment …