1 week ago
Leading cryptocurrencies tumbled, while stocks closed higher on Tuesday, as investors awaited the Federal Reserve’s minutes from January’s policy meeting.
No Respite For Crypto
Bitcoin slid to an intraday low of $66,600, accompanied by a slight increase in 24-hour trading volumes.
Ethereum continued to battle bears at $2,000, while XRP and Solana recorded noticeable declines.
Shares of cryptocurrency-related companies, including Strategy Inc. (NASDAQ:MSTR) and BitMine Immersion Technologies, Inc. (NYSE:BMNR), closed down 3.89% and 3,86%, respectively.
Roughly $200 million was liquidated from the market in the last 24 hours, according to Coinglass, with $138 million in long liquidations alone wiped out.
Bitcoin’s open interest rose 0.68% over the past 24 hours. An increase in open interest coupled with a drop in price typically indicates entry of new short positions.
However, both retail and whale investors on Binance continued to be bullish on Bitcoin, placing a higher number of longs compared to shorts.
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