Here's the latest news on Bitcoin, Dogecoin, and Solana:
BITCOIN#bitcoin
- Bitcoin's price surged above $93,000 earlier due to strong ETF inflows, with long-term holders increasing their collective wealth by $26 billion this month.
- The cryptocurrency saw a 2% price uptick in the last 24 hours, with over $40 million in positions exited, making it the most liquidated coin in the period.
- Bitcoin's funding rates turned negative recently, but a price correction pushed the price level back above $92,000, starting a psychological market short squeeze ¹ ².
DOGECOIN#DOGE
- Dogecoin's price jumped nearly 9% over the last 24 hours to $0.172, following Bitcoin's surge above $90,000.
- DOGE's 24-hour 6% gain is the highest among the top 10 cryptos by market cap, with investors optimistic about potential ETF filings.
- The US SEC's acknowledgment of Grayscale's ETF filings for Dogecoin has contributed to the price increase ³ ¹ ⁴.
Solana#solana
- Solana's price tumbled to $180, down over 9% since the US SEC acknowledged XRP and DOGE ETF filings, with bears dominating the SOL derivatives markets.
- $400 million active short contracts dwarf $138 million long positions, indicating a potential prolonged downtrend.
- However, an overextension of bearish bets could set the stage for a short squeeze, potentially driving prices up ⁴.
