Leading cryptocurrencies plunged alongside stocks on Wednesday, as investors await the Consumer Price Index report for hints on the Federal Reserve’s next moves.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:25 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -2.01% | $85,977.58 |
| Ethereum (CRYPTO: ETH) |
-4.57% | $2,825.89 |
| XRP (CRYPTO: XRP) | -3.80% | $1.85 |
| Solana (CRYPTO: SOL) | -4.47% | $123.51 |
| Dogecoin (CRYPTO: DOGE) | -4.82% | $0.1255 |
Bitcoin Pumps And Dumps
Bitcoin saw a sharp jump to $90,000 in the early trading hours before reversing all the gains in a jiffy, triggering massive liquidations. The apex cryptocurrency sank below $86,000 later in the day.
Ethereum saw a similar trajectory, pushing past $3,000 only to crash below $2,800 eventually. Trading volume for the second-largest cryptocurrency rose 17% in the last 24 hours.
Shares of cryptocurrency-linked stocks Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NASDAQ:COIN) closed down 4.25% and 6.59%, respectively, during the regular trading session.
Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. Find out more about MSTR and BMNR here.
Over $530 million was liquidated from the cryptocurrency market in the last …