Bitcoin, Ether Move Sideways Ahead Of Fed’s FOMC Meet
By Kapil Rajyaguru
Leading cryptocurrencies maintained sideways movement Sunday evening as investors eyed the Fed’s interest rate decision and inflation data for guidance.
Bitcoin wobbled in the $69,000 zone after falling sharply on stronger-than-expected jobs data on Friday.
Ethereum witnessed a similar trajectory, with the world’s second-largest cryptocurrency consolidating in the $3,600 region.
In the past 24 hours, 26,965 traders were liquidated, with the total liquidations coming in at $41.52 million. Nearly equal amounts of long and short liquidations reflected the flatter trajectory.
The Open Interest in Bitcoin Futures rose 0.60%, mirroring the rise in spot price. On the other hand, Ethereum’s OI fell 0.72%.
In the last 24 hours, the number of traders betting on Bitcoin’s price decline surged dramatically vis-à-vis those who took long positions, suggesting the dominance of bearish sentiment.
Toncoin is among the poorest performers as it has dropped by over 6% and sits well below $7. Substantial losses are evident from SOL, XRP, DOGE, SHIB, AVAX, DOR, BCH, and NEAR.
The meme coins have felt some of their inevitable volatility as PEPE has dumped by 6% and WIF is down by more than 5%.
The global crypto market cap is $2.55T, a 0.80% increase over the last day. The total crypto market volume over the last 24 hours is $48.92B, which makes a 7.34% decrease. The total volume in DeFi is currently $4.33B, 8.86% of the total crypto market 24-hour volume.
The volume of all stable coins is now $45.27B, which is 92.53% of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 53.92%, a decrease of 0.03% over the day.
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