Bitcoin Flat As Dogecoin, XRP, Ethereum Slide – Tron Defies Broader Crypto Slump, Dogecoin Leads Decline

Bitcoin (BTC) continued to trade sideways in pre-market hours on Tuesday as ETF inflows slowed down over the past week. Tron (TRX) stood out as the only green cryptocurrency among major tokens, and Dogecoin (DOGE) led the slide. 

According to Glassnode data, net inflows into ETFs are down 80% to $496 million, and trade volume has dropped to $18.7 million over the past week. The data analytics firm believes that the crypto market has cooled and entered a reassessment phase. “With signs of seller exhaustion building, a bounce is possible, though fragility remains if negative catalysts emerge,” it said in its report. 

Bitcoin’s price edged 0.2% lower in the last 24 hours, trading at around $118,600 early morning. On Stocktwits, retail sentiment around the apex cryptocurrency remained in ‘bearish’ territory.

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, dropped 1.2% over the past day while Ripple’s native token XRP (XRP) lost 3%. Ethereum’s price fell to around $3,850, with retail sentiment on Stocktwits slipping to ‘bearish’ territory from ‘neutral’ a day ago. 

XRP’s price dipped to $3.14, with retail sentiment remaining in the ‘bearish’ zone over the past 24 hours.

Tron was the only major altcoin in the green during pre-market trade. Tron’s price was up 6.5% over the past day, and has gained nearly 25% over the past 30 days. On Stocktwits, retail sentiment around the cryptocurrency improved to ‘bullish’ from ‘neutral’ territory a day ago. 

Meanwhile, meme token Dogecoin led the slide among major cryptocurrencies, falling 5.6% in the last 24 hours. Dogecoin’s price has dipped to $0.2266 after falling nearly 15% over the past seven days. On Stocktwits, retail sentiment edged lower within ‘bearish’ territory.

Volatility in the crypto market led to $464.55 million in liquidations over the past day, according to Coinglass data. Most of the liquidations originated from long bets – traders who bet the price would rise, totaling around $377 million. Short liquidations were $87.15 million. Ethereum experienced the largest liquidations of $131 million, followed by Bitcoin at $44 million.

On the equities side, crypto-linked stocks were on track to open in the green. Strategy (MSTR) stock edged 0.5% higher while Marathon Holdings (MARA) and Coinbase Global (COIN) rose 0.4%. 

Read also: Dow Futures Rise As Investors Remain Optimistic Following EU Tariff Deal: UNH, PG, SPOT, BA Among Stocks To Watch

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on