Bitcoin Holds Near $84,500 as Crypto Liquidations Reach $341 Million
Bitcoin and Ether traded in narrow ranges as the 10-year Treasury yield reached 5.11%, while the Crypto Fear and Greed Index held at 71.
Bitcoin held near $84,500 as crypto derivatives liquidations reached $341 million and Treasury yields climbed to 5.11%, keeping pressure on risk assets while market sentiment stayed in greed territory.
Bitcoin traded at $84,583, up 0.31% over 24 hours. It moved between $82,874 and $84,942. Ether (ETH) gained 0.27% to $2,689, with a range of $2,600 to $2,706.
Liquidations involved 83,583 traders. Long positions accounted for $222 million, while short positions represented $120 million. The largest single liquidation was an $11.48 million Ether contract on Binance.
The total was below the more than $500 million recorded Sept. 23, pointing to less volatility than in that session.
Among the 10 largest cryptocurrencies, XRP rose 2.86% to $1.5434. Solana (SOL) gained 1.93% to $117.37.
U.S. stocks closed nearly flat Wednesday. The S&P 500 fell 0.11% to 7,699.20, the Dow Jones Industrial Average declined 0.07% to 51,333.20 and the Nasdaq 100 slipped 0.11% to 30,455.20.
The 10-year U.S. Treasury yield climbed to 5.11%, its highest level in 19 years, adding pressure to valuations of risk assets.
The Crypto Fear and Greed Index stood at 71, unchanged from the prior reading and within the greed range. It has remained near 70 for five days after rising from 56 on Sept. 18.
