Dogecoin's 10% Dump Liquidates $60M In Long Bets
Portfolio Pulse from Murtuza Merchant
Dogecoin experienced a significant 10% price drop, leading to $60 million in long trades being liquidated. This event was part of a broader sell-off in major cryptocurrencies, with Bitcoin and Ethereum also seeing substantial liquidations. The downturn is attributed to profit-taking and a stronger dollar, as well as expectations of a Fed rate cut prompting investors to move away from risky assets.
June 18, 2024 | 2:07 pm
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Bitcoin long bets lost $47 million amid a broader sell-off in major cryptocurrencies. The downturn is attributed to profit-taking and a stronger dollar.
Bitcoin experienced significant liquidations, losing $47 million in long bets. This is part of a broader sell-off in the crypto market, driven by profit-taking and a stronger dollar.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Dogecoin saw a 10% price drop, leading to $60 million in long trades being liquidated. The downturn is part of a broader sell-off in major cryptocurrencies.
Dogecoin experienced a sharp decline, with $60 million in long trades liquidated. This is part of a broader sell-off in the crypto market, driven by profit-taking and a stronger dollar.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethereum bullish bets suffered the most with $76 million in liquidations amid a broader sell-off in major cryptocurrencies.
Ethereum saw the highest liquidations among major cryptocurrencies, losing $76 million in bullish bets. This is part of a broader sell-off in the crypto market, driven by profit-taking and a stronger dollar.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 70