Bitcoin, Ethereum Muted, Dogecoin Rallies As Market Maintains 'Greed' Sentiment: Analyst Predicts New Peak For King Crypto As US Elections And Potential Fed Rate Cut Looms

Bitcoin and Ethereum continued trading flat even as equities notched fresh record highs. However, Dogecoin moved higher on Thursday.

What Happened: Bitcoin wiggled in a narrow range of $66,800-$67,400 for much of the day before kissing $68,000 overnight. The world's largest cryptocurrency was up over 12% in the last week.

Dogecoin spiked over 8% in the last 24 hours, extending a bullish trajectory that has seen the world's biggest meme coin gain around 26% over the week. Notably, on Thursday, Tesla and SpaceX CEO Elon Musk referenced the Department of Government Efficiency (DOGE) during a town hall in Pennsylvania, where he expressed support for the GOP presidential candidate Donald Trump

Cryptocurrency liquidations exceeded $168 million in the last 24 hours, with over $121 million in upside bets getting wiped out.

Bitcoin's Open Interest rose by just 0.53% in the last 24 hours. Additionally, more number of institutional investors and top trader accounts on Binance were shorting Bitcoin than those taking long positions on the ...

Full story available on Benzinga.com