Leading cryptocurrencies dipped on Thursday under a volatility squeeze, even as investors awaited a decisive breakout.
| Cryptocurrency | Gains +/- | Price (Recorded at 10:30 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.41% | $117,214.66 |
| Ethereum (CRYPTO: ETH) |
+1.26% | $3,686.38 |
| Dogecoin (CRYPTO: DOGE) | -6.32% | $0.2287 |
What Happened: Bitcoin retraced sharply from the $119,000 zone, dropping to the early $117,000s overnight, as traders amped up sell pressure. Volume rose 16.35% to $77.66 billion in the last 24 hours.
Ethereum’s pullback was less severe, as the second-largest cryptocurrency held the $3,640 level as support.
The blue-chip cryptocurrencies have been off to a strong start in the third quarter, with Ethereum up 48% and Bitcoin up 9.50%.
In the past 24 hours, 201,155 traders were liquidated, totaling $583.09 million. Over $435 million in bullish long bets were erased.
Bitcoin’s open interest rose slightly by 0.41% in the last 24 hours. The majority of Binance derivatives traders with open BTC positions were leveraged short, according to the Long/Shorts ratio.
The “Greed” sentiment weakened …