‼️ Dogecoin Slumps 10% Amid Bitcoin's Slide to $96K, $560M Long Positions Liquidated
Dogecoin (DOGE) experienced a significant drop of 10% as Bitcoin (BTC) fell from over $102,000 to nearly $96,000. This decline was attributed to fresh economic data that caused U.S. Treasury yields to rise, leading to $560 million in liquidations of long positions in crypto futures. Other cryptocurrencies, including Ethereum (ETH), Solana (SOL), and Cardano (ADA), also reported losses of at least 7%.
Market analysts anticipate a shaky period for cryptocurrencies in January due to structural risks, including discussions around the U.S. Treasury debt ceiling. Despite the downturn, some experts remain optimistic, suggesting that such dips can precede larger bullish movements, especially with a more crypto-friendly administration expected in the U.S.
