Leading cryptocurrencies recouped some losses on Tuesday, following steep declines the previous day.
Cryptos Rebound
Bitcoin regained some ground, rallying to an intraday high of 93,745.08, following its crash below $90,000. Trading volume was up marginally by 3% over the last 24 hours. The apex cryptocurrency is down 0.93% year-to-date and has erased all its gains for 2025.
Ethereum also had a relief bounce, reaching an intraday high of $3,167.93 after losing the crucial $3,000 level as support the day before. XRP and Solana recorded upticks as well.
Shares of Bitcoin holding company Strategy Inc. (NASDAQ:MSTR) also lifted, ending the day 5.82% higher.
Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. Find out more about MSTR here.
Cryptocurrency liquidations exceeded $460 million in the last 24 hours, according to Coinglass, with nearly $320 million in bullish longs liquidated.
Bitcoin’s open interest fell 2.79% in the last 24 hours. The percentage of Binance traders placing bullish bets on BTC dropped from 78% to 72% in the last 24 hours, according to the Long/Short Ratio.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $3.16 trillion, following an increase of 1.26% in the last 24 hours.
Stocks Decline Amid AI Valuation Concerns
Stocks retreated further on Tuesday. The Dow Jones Industrial Average tumbled 498.50 points, or 1.07%, to end at 46,091.74. The S&P 500 slid 0.83% to finish at 6,617.32, while the tech-focused Nasdaq Composite fell 1.21% to end at 22,432.85.
Chipmaker Nvidia Corp. (NASDAQ:NVDA) shed nearly 3%, adding to the broader concerns around the sector on fears of an artificial intelligence bubble.
Investors are set to closely watch Nvidia’s third-quarter earnings, due after Wednesday’s closing bell, to see whether the company addresses some of the the concerns surrounding the AI sector.
Bitcoin Bears In ‘Full Control’
Blockchain analytics firm CryptoQuant highlighted that Bitcoin’s Composite Index ratio — a market momentum indicator — has fallen to 0.72, a level not seen in nearly seven months.
“If the ratio falls below 0.75, short-term holders will take profits, and the price may correct to $87,500 — a support level dating back to March,” CryptoQuant said.
On the other hand, if the ratio exceeds 1, it would signal “renewed momentum,” potentially driving Bitcoin to the $150,000-175,000 range.
Widely followed cryptocurrency analyst and trader Captain Faibik stated that Bitcoin bears are currently in “full control.”
“I personally think Bitcoin will retest the $78,000-$80,000 area in the coming weeks,” the analyst projected.
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Bitcoin’s Not A Hedge Anymore — Here’s What That Means For Your Portfolio
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BTCGrayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest$40.75-0.78%Overview$BTCBitcoin – United States dollar$92523.76-0.42%$DOGEDogecoin – United States dollar$0.1614-0.17%$ETHEthereum – United States dollar$3123.800.06%$SOLSolana – United States dollar$141.180.40%$XRPRipple – United States dollar$2.21-0.32%MSTRStrategy Inc$203.40-1.64%NVDANVIDIA Corp$180.72-0.35%Market News and Data brought to you by Benzinga APIs
