Leading cryptocurrencies pulled back, while stocks extended their rally on Tuesday as traders priced in little to no possibility of rate cuts.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:10 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.48% | $73,996.91 |
| Ethereum (CRYPTO: ETH) |
-0.82% | $2,329.69 |
| XRP (CRYPTO: XRP) | -1.74% | $1.51 |
| Solana (CRYPTO: SOL) | -0.56% | $94.71 |
| Dogecoin (CRYPTO: DOGE) | -2.50% | $0.1004 |
Crypto Rally Halts
Bitcoin cooled down after Monday’s spike, retreating to the $73,000 region, while trading volume fell 20% over the last 24 hours.
Ethereum‘s rally also halted, as the second-largest cryptocurrency wobbled in the $2,300 region. XRP and Dogecoin also faced a correction.
Shares of Strategy Inc. (NASDAQ:MSTR) and Coinbase Global Inc. (NASDAQ:COIN) closed up 1.87% and 3.40%, respectively.
Over $200 million was liquidated from the cryptocurrency market over the past 24 hours, hitting long positions hardest, according to Coinglass data.
Open interest in Bitcoin futures fell 3.94% in the last 24 hours. More than half of Binance’s retail derivatives traders positioned short on Bitcoin, contrasting with the majority of whale traders who favored the longs.
“Fear” sentiment prevailed in the market, according to …