Bitcoin, Ethereum Hold Steady Amid Mixed Retail Sentiment – Dogecoin Still In The Red

The volatility in the crypto market led to nearly $300 million in liquidations over the past 24 hours, according to Coinglass data.

Bitcoin (BTC), Ethereum (ETH), and other major cryptocurrencies remained under pressure after last week’s bull run in early morning trade on Tuesday. 

Bitcoin’s price edged 0.5% higher and was trading at around $115,600, with retail sentiment on Stocktwits in ‘bearish’ territory. BTC’s price has dipped nearly $10,000 since its latest record high of over $124,000 last week. According to crypto analyst BitQuant, Bitcoin’s price will not dip below $100,000 in the current downtrend. “Doesn’t matter the news, the Fed, or inflation,” they wrote in a post on X.

Bitcoin-linked stocks were mixed during pre-market trading amid broader weakness in the market. Shares of Strategy (MSTR), the largest corporate holder of Bitcoin, dipped 0.5%. Bitcoin miner Riot Platforms (RIOT) stock gained 0.1%, while shares of its peer, Mara Holdings (MARA), slid nearly 0.31%. Crypto exchange Coinbase Global’s (COIN) stock traded flat.

Meanwhile, Ethereum’s price edged 0.7% higher, trading at around $4,200. However, retail sentiment on Stocktwits dipped to ‘neutral’ from the ‘bullish’ zone as chatter also fell to ‘normal’ from ‘high’ levels.

Meanwhile, shares of Ethereum-holding companies, Bitmine Immersion Technologies (BMNR) and FG Nexus (FGNX), were in the red during pre-market trade. BMNR’s stock edged 0.36% lower, while FGNX’s stock fell 0.67%. BitMine’s stock fell more than 5% in the previous session, despite announcing that its Ethereum holdings were now worth $6.6 billion, making it the second-largest corporate crypto holder.

Other major altcoins, which include Solana (SOL), Ripple’s native token (XRP), and Cardano (ADA), were in the green during early morning trade. Cardano’s price saw the biggest spike, gaining more than 3% in the last 24 hours, followed by XRP’s price, which gained 1.4% and Solana’s price, which gained 0.8%. Meme token Dogecoin’s (DOGE) price was still in the red, dropping around 1%. 

The volatility in the crypto market led to nearly $300 million in liquidations over the past 24 hours, according to Coinglass data. Most of the liquidations came from long bets–traders who bet that the price of cryptocurrencies would rise, amounting to around $197 million. Short liquidations were around $100 million. Ethereum experienced the largest liquidations of $124 million, followed by Bitcoin at $41 million.

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