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Bitcoin, Ethereum, Dogecoin Power Down Amid South Korea Political Turmoil: Analyst Shares Strategy For Altcoin Holders — Avoid Chasing FOMO, Take Profits

Benzinga ·  Dec 4, 2024 09:59

Leading cryptocurrencies traded flat Tuesday even as the stock market closed at new records.

CryptocurrencyGains +/-Price (Recorded at 7:45 p.m. ET)
Bitcoin (CRYPTO: BTC)-0.35%$95,699.46
Ethereum (CRYPTO: ETH)

-0.27%$3,627.03
Dogecoin (CRYPTO: DOGE) -1.50%$0.4143

What Happened:Bitcoinhad a rocky journey, falling to $93,645 in the morning before recovering to $96,000.

The volatility came amid huge political drama in South Korea, as PresidentYoon Suk Yeolrevoked a martial law decree just hours after it was announced.

Bitcoin's market dominance fell by more than 6%, while altcoins recorded a significant jump in share.

The volatile movement led to more than $621 million in cryptocurrency liquidations in the last 24 hours, with bullish leveraged bets accounting for $389 million.

Bitcoin's Open Interest (OI) fell by...

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