Solana, Ethereum, XRP Lead Crypto Losses While Bitcoin Reclaims $67,000

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Ethereum’s price remained below the $2,000 mark on Wednesday night, while Solana fell 3.5% in the last 24 hours.

  • Bitcoin’s price recovered from an intraday low to trade above $67,000, still down around 1% in the last 24 hours. 
  • A platform poll shows many traders expect Bitcoin’s price to fall below $50,000 or at last remain below $80,000 in the next three months. 
  • The total cryptocurrency market capitalization fell to about $2.38 trillion in the last 24 hours, with more than $460 million in leveraged crypto bets wiped out.

Solana (SOL), Ethereum (ETH), and Ripple’s XRP (XRP) led losses among the top 10 cryptocurrencies by market capitalization on Wednesday night, while Bitcoin (BTC) managed to climb back above $67,000.

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Bitcoin’s price fell 1% in the last 24 hours to around $67,300, recovering from an intra-day low of around $65,900. On Stocktwits, retail sentiment around the apex cryptocurrency flipped to ‘bullish’ from ‘bearish’ over the past day, accompanied by chatter at ‘high’ levels.

BTC retail sentiment and message volume on February 11 as of 10:30 p.m. ET | Source: Stocktwits

Some users on the platform still had reservations about whether Bitcoin’s price is going to fall further in the near future.

According to an ongoing poll on the platform, most traders expect Bitcoin’s price to crash below $50,000 in the next three months or remain range-bound below the $80,000 mark.

Results of an ongoing Stocktwits poll asking traders about Bitcoin’s next major move in the next three months on February 11 as of 11:15 p.m. ET | Source: Stocktwits

Ethereum’s Price Stuggles Below $2,000

Solana’s price took the heaviest hit among crypto majors in the last 24 hours, falling as much as 3.5% to $80.41. On Stocktwits, retail sentiment around the cryptocurrency dipped to ‘neutral’ from ‘bullish’ over the past day, with chatter at ‘high’ levels.

SOL retail sentiment and message volume on February 11 as of 10:35 p.m. ET | Source: Stocktwits

Ethereum’s price continued to trade under $2,000, down 2.3% in the last 24 hours. Currently, trading at around $1,965, investors are watching if the ‘perfect bottom’ is going to form at $1,890 and then stage a V-shaped recovery, as predicted by Bitmine Immersion Technologies (BMNR) chairman, Tom Lee.

On Stocktwits, retail sentiment around Ethereum’s flipped to ‘bearish’ from ‘bullish’ over the past day and chatter dropped to ‘normal’ from ‘high’ levels.

ETH retail sentiment and message volume on February 11 as of 10:35 p.m. ET | Source: Stocktwits

XRP’s price was down 2.2% in the last 24 hours to around $1.37. It saw a similar flip in retail sentiment, going to ‘bearish’ from ‘bullish’ territory over the span of a day, with chatter dipping to ‘normal’ from ‘high’ levels. 

XRP retail sentiment and message volume on February 11 as of 10:40 p.m. ET | Source: Stocktwits

Crypto Liquidations Near $460 Million

Cardano (ADA) and Dogecoin (DOGE) also underperformed Bitcoin, down 1.4% and 1.1% respectively. Meanwhile, Binance Coin (BNB) outperformed, edging just 0.4% lower in the last 24 hours. 

The overall cryptocurrency market took a hit of 1.1%, with its value down to around $2.38 trillion. CoinGlass data showed liquidations at over $460 million. After Wednesday’s volatility in prices, around $290 million long positions and another $171 short bets were wiped out in the last 24 hours. 

Read also: Tinder And Facebook On Blockchain? Cardano Founder Says That Will ‘Change Everything’

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