Bitcoin Tops $67K on Dovish Fed Remarks; Ether Rebounds From SEC Fears, DOGE Soars
Bitget2024/03/21 06:15
By: Bitget
Crypto markets bounced sharply higher and bitcoin (BTC) targeting $67,000 on Wednesday as U.S. Federal Reserve Chair Jerome Powell hit a dovish tone after the central bank maintained its outlook for three rate cuts this year despite hotter-than-expected inflation figures.
Bitcoin (BTC) hit a $67,781 daily high, recording a more than 10% recovery from level seen hours earlier. Ether (ETH) erased its 6% dip earlier in the day that had been triggered by news reports about the Ethereum Foundation facing a confidential inquiry from an unnamed government and the U.S. Securities and Exchange Commission considering classifying the asset as a security.
Dogecoin (DOGE), litecoin (LTC) and bitcoin cash (BCH) led gains among major cryptocurrencies as people finally noticed a Coinbase plan, posted on a U.S. regulator's website several weeks ago, to offer futures contracts on them.
Futures Market Updates
As BTC returned to $67K, short positions got liquidated more than long.
Bitcoin Futures Updates
Total BTC Open Interest: $36.36B (-8.93%)
BTC Volume (24H): $131.18B (-9.01%)
BTC Liquidations (24H): $55.99M (Long)/$75.42M (Short)
Long/Short Ratio: 51.19%/48.81%
Funding Rate: 0.0134%
Ether Futures Updates
Total ETH Open Interest: $13.20B (+8.12%)
ETH Volume (24H): $74.89B (+20.23%)
ETH Liquidations (24H): $55.72M (Long)/$50.42M (Short)
Long/Short Ratio: 50.74%/49.26%
Funding Rate: 0.0153%
Top 3 OI Surges
POLYX: $58.69M (+553.03%)
ETHFI: $47.09M (+240.29%)
TRU: $16.47M (+142.80%)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Lock now!
You may also like
Crypto prices
More
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now