- Dogecoin and Ethereum were the only major cryptocurrencies that gained on Tuesday night, as the broader market fell.
- Bitcoin’s price decline coincided with a 2.2% drop in the iShares Expanded Tech-Software Sector ETF (IGV).
- Approximately $195 million in crypto positions were liquidated, with long positions making up the majority of losses.
- Markets were cautious ahead of the Federal Open Market Committee meeting minutes release on Wednesday afternoon.
On a turbulent Tuesday night for digital assets, Dogecoin (DOGE) and Ethereum (ETH) defied a broader cryptocurrency market selloff as Bitcoin slipped amid declining software stocks. The overall crypto market capitalization fell 1.6% to under $2.4 trillion, while Bitcoin dropped 1.4% to trade around $67,500. However, retail sentiment on Stocktwits for Bitcoin shifted to “bearish” from “neutral” as chatter remained low.
Consequently, the pullback in Bitcoin coincided with continued weakness in the software sector. The IGV ETF fell 2.19%, and its retail sentiment on Stocktwits dipped to “bullish” from “extremely bullish.” Meanwhile, traders were also tempering their activity ahead of key economic guidance. Market anticipation was focused on the upcoming Federal Open Market Committee (FOMC) meeting minutes, scheduled for release Wednesday afternoon.
Dogecoin’s price moved 0.7% higher to $0.1012, and Ethereum edged up 0.4% to around $1,994. They were the only two major cryptocurrencies trading in positive territory during the session. Retail sentiment around Dogecoin remained “bullish” with “extremely high” chatter, while sentiment for Ethereum stayed “bearish.”
Other notable altcoins like Ripple‘s XRP (XRP) dipped 0.3%, while Solana (SOL), Binance Coin, and Cardano fell more than 1% each. Data from CoinGlass showed total liquidations hit roughly $195 million, with long positions accounting for most losses. This indicates a higher ratio of traders were betting on a market recovery before the downturn.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
