Bitcoin, Ethereum, XRP, Dogecoin Drop as Investors Weigh Rate Hike Odds: Analyst Explains Why ‘Horrific’ BTC Chart Is Routine in a Bull Market - TradingView

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Leading cryptocurrencies fell further on Tuesday as investors weighed hotter-than-expected consumer prices and the rising odds of an interest-rate hike. Bitcoin fell below $73,000, while Ethereum stayed trapped in the $2,000–$2,100 range amid a sharp drop in overall market sentiment. XRP and Dogecoin also recorded sharp 24-hour declines. Cryptocurrency-related stocks also fell, with Strategy Inc. MSTR and Bitmine Immersion Technologies Inc. BMNR closing down 3.60% and 2.77%, respectively. Cryptocurrency markets saw over $715 million in liquidations in the last 24 hours, with the vast majority — $580 million — coming from bullish long positions, according to Coinglass data. Bitcoin’s open interest fell 0.30% over the last 24 hours.