Leading cryptocurrencies fell on Thursday as investors took caution ahead of Federal Reserve Jerome Powell’s address.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:20 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.28% | $112,581.25 |
| Ethereum (CRYPTO: ETH) |
-1.42% | $4,240.92 |
| XRP (CRYPTO: XRP) | -2.83% | $2.85 |
| Solana (CRYPTO: SOL) | -3.44% | $180.06 |
| Dogecoin (CRYPTO: DOGE) | -2.57% | $0.2154 |
Cryptos Take U-Turn
Bitcoin failed to sustain Wednesday’s spike, tumbling below $112,000 for the first time in over a month. Ethereum plummeted to an intraday low of $4,205.78, reversing the upward trend of the previous day.
Net outflows from Bitcoin spot exchange-traded funds stood at $66.84 million as of Aug. 21, according to analytics firm SoSo Value, marking the fourth consecutive day of losses.
Since August began, Bitcoin has slid 2.56%, while Ethereum has risen 14.52%.
Over $220 million was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for 72% of the total.
Meanwhile, Bitcoin’s open interest rose 0.93% over the last 24 hours. When Open Interest rises and prices fall, it typically indicates that more participants are entering new short positions.
The market remained in “Neutral” state, according to the Crypto Fear & Greed …