Leading cryptocurrencies slid on Sunday night as large investors began to lock in gains.
| Cryptocurrency | Gains +/- | Price (Recorded at 10:05 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.09% | $116,272.17 |
| Ethereum (CRYPTO: ETH) |
-0.51% | $4,390.04 |
| XRP (CRYPTO: XRP) | -2.27% | $3.03 |
| Solana (CRYPTO: SOL) | -1.13% | $186.59 |
| Dogecoin (CRYPTO: DOGE) | -1.48% | $0.2285 |
Cryptos Sell Off As Shorts Spike
Bitcoin tumbled below $116,000 overnight, while trading volume rose slightly by 5% in the last 24 hours. The decline comes after the apex cryptocurrency reached an all-time high of $124,000 earlier this week.
According to CryptoQuant, the Exchange Whale ratio, the ratio of the top 10 inflows to the total inflows of the exchange, surged sharply, suggesting that whales were cashing out.
Ethereum recorded a similar plunge, dropping from an intraday high of $4,575 to below $4,400.
Nearly $350 million was liquidated from the market over the last 24 hours, with bullish long traders losing $236 million.
Bitcoin’s open interest rose 0.15% over the last 24 …