The cryptocurrency market experienced a minor downturn on Tuesday, resulting in the liquidation of 51,441 future crypto traders and a total liquidation value of $116.07 million within the past 24 hours.
| Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EST) |
| Bitcoin (CRYPTO: BTC) | -2.27% | $42.312 |
| Ethereum (CRYPTO: ETH) | -2.25% | $2,176 |
| Dogecoin (CRYPTO: DOGE) | -2.94% | $0.090 |
What Happened: Notably, long positions in Ethereum saw liquidations worth $21 million, while BTC longs saw over $20 million in liquidations.
In other news, bankrupt crypto lender Genesis successfully won a bid to block parent company Digital Currency Group (DCG) from selling or reducing its ownership of the company during Chapter 11 proceeding.
Top Gainer (24 Hour)
| Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EDT) |
| Sei (SEI) | +15.98% | $0.35 |
| Helium (HNT) | +10.74 | $8.88 |
| NEAR Protocol (NEAR) | +10.02% | $2.25 |
The global crypto market cap has reached $1. trillion, marking a 4.51% increase in the last 24 hours.
On Tuesday, the S&P 500 inched closer to its record high as a result of the Federal Reserve’s recent favorable stance on interest rates, which boosted the stock market. The broad market index rose by 0.59%, touching 4,768.37. With this increase, the S&P 500 is now only 0.6% away from surpassing its record close and 1% short of matching its intraday record, both of which were set earlier in January 2022.
In addition, the Nasdaq Composite grew by 0.66% to 15,003.22. This is the first time the tech-heavy index has closed above the 15,000 level since January 2022. Meanwhile, the Nasdaq 100 climbed by 0.49%, setting all-time intraday and closing highs at 16,811.85.
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Analyst Notes: Cryptocurrency analyst Michael Van de Poppe believes that the Bitcoin market is currently experiencing a sluggish trend, characterized by marginal fluctuations within a particular price range. “If entries are provided sub $41K, probably ready to take them. Main scenario remains this range between $38-48K for the upcoming 3-6 months.”
Sideways moving markets on #Bitcoin, consolidation before a good Q1. If entries are provided sub $41K, probably ready to take them.Main scenario remains this range between $38-48K for the upcoming 3-6 months. pic.twitter.com/QLrtLbPcDp
— Michaël van de Poppe (@CryptoMichNL) December…
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