Leading cryptocurrencies dived on Thursday after hotter-than-expected wholesale inflation tempered risk appetite.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -4.09% | $118,590.95 |
| Ethereum (CRYPTO: ETH) |
-2.85% | $4,608.59 |
| XRP (CRYPTO: XRP) | -6.60% | $3.09 |
| Solana (CRYPTO: SOL) | -5.02% | $193.61 |
| Dogecoin (CRYPTO: DOGE) | -8.64% | $0.2253 |
Crypto Liquidations Hit $1 Billion
Bitcoin plummeted below $118,000 after reaching a new high of $124,000 on Wednesday. The apex cryptocurrency pared losses overnight after reentering $118,000.
The asset took another blow after Treasury Secretary Scott Bessent said that the government will not be buying additional BTC for the strategic national reserve.
Ethereum took a U-turn after getting close to breaking its previous record. Major altcoins like XRP and Solana also felt the pinch.
Over $1 billion was liquidated from the market over the last 24 hours, with bullish long traders losing over $873 million.
Both Bitcoin and Ethereum recorded a marked dip in open interest in the last 24 hours. Interestingly, Binance futures traders bought the dip, with more than 55% of the accounts positioned long.
The “Greed” sentiment tanked from …