BITNEWS

Bitcoin, Ethereum, Dogecoin Recover As Federal Reserve Chair Powell Says Rate Cut Not 'Appropriate' For Now: Analyst Says Last Week's Drop Could Be Termed Fake Breakdown If King Crypto Retakes $60K

The cryptocurrency market recorded another day of gains Tuesday, as investors regained confidence following last week’s bloodshed.CryptocurrencyGains +/-Price (Recorded 8:30 p.m. EDT)Bitcoin (CRYPTO: BTC)+2.34%$57,633.25Ethereum (CRYPTO: ETH) +1.15%$3,040.15Dogecoin (CRYPTO: DOGE) +0.71%$0.1072What Happened: Bitcoin spiked above $58,000 during trading hours, before sell-offs during the evening dragged it down to the $57,000 region.Ethereum was rather choppy, as gains above $3,100 made early morning couldn't be sustained. The second-largest cryptocurrency consolidated in the 3,000s.In the last 24 hours, about 33,787 traders were liquidated, with over $93 million in bets being wiped out. An almost equal number of long and short positions were liquidated. Bitcoin's Open Interest surged 3% to $28.45 billion in the last 24 hours. An increase in OI, alongside an increase in price, signaled somewhat bullish sentiment. The Cryptocurrency Fear & Greed Index showed a reading of 28, indicating a high level of “Fear” in the market. Such levels were ...Full story available on Benzinga.com

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Published by: benzinga

Read full article here: https://www.benzinga.com/markets/cryptocurrency/24/07/39701588/bitcoin-ethereum-dogecoin-recover-as-federal-reserve-chair-powell-says-rate-cut-not-approp