Leading cryptocurrencies gained on Wednesday amid reports that President Donald Trump was considering reducing China tariffs.
Cryptocurrency
Gains +/-
Price (Recorded at 8:45 p.m. ET)
Bitcoin (CRYPTO: BTC)
+0.47%
$93,643.53
Ethereum (CRYPTO: ETH)
+2.38%
$1,792.14
Dogecoin (CRYPTO: DOGE)
-2.57%
$0.1785
What Happened: Bitcoin consolidated in the $93,000 range after rising above $94,000 early this morning. Ethereum, the second-largest cryptocurrency, surpassed $1,800 for the first time since April 6.
Dogecoin, meanwhile, edged lower, following a sharp rebound earlier in the week.
Over $351 million was liquidated from the cryptocurrency market in the last 24 hours, with nearly $190 million in bearish shorts getting erased.
Nearly $289 million in Bitcoin shorts risked liquidation if the apex cryptocurrency reached $95,000.
Bitcoin's Open Interest rose moderately by 0.15% in the last 24 hours, following a double-digit bump in the previous day.
Bearish bets continued to dominate over bullish long bets, as more than 62% of Binance traders with open Bitcoin positions bet against the leading cryptocurrency.
The market sentiment remained in "Greed," according to the Crypto Fear and Greed Index, signaling a rise in buying pressure.
Top Gainers (24-Hours)
Cryptocurrency
Gains +/-
Price (Recorded at 8:45 p.m. ET)
Official Trump (TRUMP)
+41.26%
$13.03
Onyxcoin (XCN)
+12.85%
$0.02103
JasmyCoin (JASMY)
+9.66%
$0.01683
The global cryptocurrency market capitalization stood at $2.93 trillion, following a marginal increase of 0.11% in the last 24 hours.
Stocks rose further on Wednesday. The Dow Jones Industrial Average jumped 419.59 points, or 1.07%, to end at 39,606.57. The S&P 500 gained 1.67% to close at 5,375.86. The tech-heavy Nasdaq Composite spiked 2.50% to end at 16,708.05.
The advance comes amid reports that the Trump administration was contemplating lowering China tariffs to between 65% and 50%, a significant reduction from the current 145%.
The sentiment has also been boosted by the shift in Trump's tone toward Jerome Powell, who said he has no intention of firing the Federal Reserve Chair.
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Analyst Notes: In a note to Benzinga, analysts at cryptocurrency payment company B2BINPAY said that while Bitcoin's current setup looks bullish, there are warning signs.
"Bitcoin dominance is currently very high, at 64.30%. This means that if Bitcoin drops even slightly from here, the altcoin market could face a much sharper decline. In this scenario, caution is warranted — it's like walking on thin ice," the analytics team added.
Widely followed cryptocurrency analyst Rekt Capital noted Ethereum's "strong" reaction as it tested the "historical demand area" as support.
"Continued stability here is essential to building out a reversal base," the chartist stated.
$ETH Ethereum is enjoying a stronger reaction today, successfully retesting this light blue area as support Continued stability here is essential to building out a reversal base #ETH #Crypto #Ethereum pic.twitter.com/6OJit9yepP
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
過去24時間で、Cryptocurrency市場から35,100万ドル以上が清算され、弱気のショートポジションで19,000万ドル近くが消失しました。 
