Bitcoin Tops $67K on Dovish Fed Remarks; Ether Rebounds From SEC Fears, DOGE Soars

Crypto markets bounced sharply higher and bitcoin (BTC) targeting $67,000 on Wednesday as U.S. Federal Reserve Chair Jerome Powell hit a dovish tone after the central bank maintained its outlook for three rate cuts this year despite hotter-than-expected inflation figures. Bitcoin (BTC) hit a $67,781 daily high, recording a more than 10% recovery from level seen hours earlier. Ether (ETH) erased its 6% dip earlier in the day that had been triggered by news reports about the Ethereum Foundation facing a confidential inquiry from an unnamed government and the U.S. Securities and Exchange Commission considering classifying the asset as a security. Dogecoin (DOGE), litecoin (LTC) and bitcoin cash (BCH) led gains among major cryptocurrencies as people finally noticed a Coinbase plan, posted on a U.S. regulator's website several weeks ago, to offer futures contracts on them.

Futures Market Updates

As BTC returned to $67K, short positions got liquidated more than long.

Bitcoin Futures Updates

Total BTC Open Interest: $36.36B (-8.93%) BTC Volume (24H): $131.18B (-9.01%) BTC Liquidations (24H): $55.99M (Long)/$75.42M (Short) Long/Short Ratio: 51.19%/48.81% Funding Rate: 0.0134%

Ether Futures Updates

Total ETH Open Interest: $13.20B (+8.12%) ETH Volume (24H): $74.89B (+20.23%) ETH Liquidations (24H): $55.72M (Long)/$50.42M (Short) Long/Short Ratio: 50.74%/49.26% Funding Rate: 0.0153%

Top 3 OI Surges

POLYX: $58.69M (+553.03%) ETHFI: $47.09M (+240.29%) TRU: $16.47M (+142.80%) 　　Disclaimer: Includes third-party opinions. No financial advice. See Risk Warning.