Leading cryptocurrencies rallied on Wednesday, despite hawkish Federal Reserve minutes dampening hopes for rate cuts.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:20 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +0.73% | $114,093.67 |
| Ethereum (CRYPTO: ETH) |
+4.78% | $4,306.00 |
| XRP (CRYPTO: XRP) | +1.78% | $2.93 |
| Solana (CRYPTO: SOL) | +4.89% | $187.07 |
| Dogecoin (CRYPTO: DOGE) | +4.96% | $0.2208 |
Sentiment Improves From ‘Fear’ To ‘Neutral’
Bitcoin reentered the $114,000 region, a day after tumbling below $113,000. Ethereum made a stronger rebound, rising to an intraday high of $4,376.79 after plummeting to $4,070.54 the previous day.
Ethereum’s dominance rose to 13.4%, the highest since mid-November 2024, while Bitcoin’s market share narrowed to 58.6%.
Over $340 million was liquidated from the cryptocurrency market in the last 24 hours, with bearish short traders losing $217 million.
Moreover, about $530 million in Bitcoin shorts risked liquidation if the apex cryptocurrency surges to $117,000.
Bitcoin’s open interest rose 0.53% over the last 24 hours to $80.76 billion. Meanwhile, over 60% of Binance traders with open BTC positions were long as of the time of this writing.
The market sentiment flipped …