Market sentiment in the cryptocurrency space shifted back to “Neutral” on Wednesday, although strong accumulation added momentum for some large-cap coins.
| Cryptocurrency | Gains +/- | Price (Recorded at 11:00 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +0.16% | $111,564.16 |
| Ethereum (CRYPTO: ETH) |
+1.89% | $4,427.04 |
| XRP (CRYPTO: XRP) | -0.44% | $2.84 |
| Solana (CRYPTO: SOL) | -1.18% | $208.76 |
| Dogecoin (CRYPTO: DOGE) | +0.78% | $0.2180 |
Bitcoin Stagnates Around $112,000
Bitcoin hovered between $111,400 and $112,500 during the day, while trading volume plunged 23% over the last 24 hours.
Ethereum, meanwhile, crept up to an intraday high of $4,489.20, following news that a Jack Ma-backed firm has invested $44 million as part of its strategic ETH reserve. Solana slipped 1.18% in the 24-hour period.
Ethereum’s dominance rose to 13.9%, while Bitcoin’s market share narrowed to 57.7%.
Bearish cryptocurrency traders were impacted again, with over $100 million in shorts getting wiped out in the last 24 hours.
Bitcoin’s open interest fell 1.33% in the last 24 hours. A fall in open interest with a rise in price typically indicated that shorts were closing their positions. About 58% of Binance traders with open BTC positions were betting on an price increase, …