Bitcoin, Ethereum, Dogecoin Slip As Fed's Hawkish Stance Tempers Rally: Analyst Expects BTC To Reach $100K Before New Year

Leading cryptocurrencies dipped on Sunday as investors reduced their risk-taking appetite amid the Federal Reserve's cautious stance on rate cuts.

What Happened: Bitcoin rose above $91,000 early morning hours but lost steam and retreated below $89,000 by evening. Dip-buying eventually boosted it over $90,000.

Ethereum followed a similar trajectory, plummeting to $3,040 from an intraday high of $3,160, only to recover to $3,110 overnight.

Total cryptocurrency liquidations hit $373 million in the last 24 hours, with bullish leveraged positions losing over $258 million.

The Open Interest (OI) in Bitcoin futures rose 0.78% in the last 24 hours.

Bitcoin's funding rates across major cryptocurrency exchanges continued to be positive, indicating dominance of longs.

The "Extreme Greed" sentiment weakened sharply from 90 to 83 due to the corrective action, reading from the Cryptocurrency Fear and Greed Index showed.

Top Gainers (24-Hours)

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