Leading cryptocurrencies moved sideways on Tuesday as investors waited for Bitcoin’s breakout to new highs.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +0.61% | $106,779.14 |
| Ethereum (CRYPTO: ETH) |
+0.17% | $2,534.18 |
| Dogecoin (CRYPTO: DOGE) | +0.18% | $0.2263 |
What Happened: Bitcoin tapped $107,000 late evening before pulling back slightly to the $106,000 region. The apex cryptocurrency was just 2.51% shy of its all-time high of $109,114.88.
Ethereum dipped to $2,440 in the early morning but recouped the losses overnight.
May has been a success for these blue-chip currencies. While Bitcoin increased by more than 14% this month, Ethereum rebounded with a 40% gain following months of decline.
Over $212 million in upside bets were liquidated from the cryptocurrency market in the last 24 hours, while $90 million in shorts were erased.
About $557 million in Bitcoin shorts could be liquidated if the apex cryptocurrency rallies to $109,000.
Bitcoin’s Open Interest increased by 1.87% in the last 24 hours and by more than 10% in the last week to $74.48 billion, suggesting that fresh …