Bitcoin traded in the green Thursday after Tesla Inc.’s TSLA searing rally lifted stocks out of losses.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
| Bitcoin BTC/USD | +1.13% | $67,956.29 |
| Ethereum ETH/USD | -0.66% | $2,525.51 |
| Dogecoin DOGE/USD | -1.46% | $0.14 |
What Happened: Bitcoin sailed to an intraday high of $68,693 during U.S. evening hours before dipping below $68,000 on profit-taking.
The world's largest cryptocurrency took a sharp U-turn after clinching $69,000 earlier this week. Its October gains stood at 7% as of this writing, well below the historical average of 21.57%.
Ethereum failed to rise, wobbling in the $2,500 range throughout the day.
Total cryptocurrency liquidations breached $104 million in the last 24 hours, with long liquidations accounting for half of them.
Bitcoin's Open Interest rose marginally by 0.05% in the 24 hours. Interestingly, most institutional investors and top traders on Binance bet against the cryptocurrency, as per the Long/Shorts Ratio.
Market sentiment remained in the "Greed" zone, according to the Cryptocurrency Fear & Greed Index, implying a bullish sentiment
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
| Cat In A Dogs World (MEW) | +18.18% | $0.01125 |
| Pyth Network (PYTH) | +10.91% | $0.3869 |
| Raydium (RAY) | +8.94% | $2.93 |
The global cryptocurrency stood at $2.33 trillion, increasing by 2.05% in the last 24 hours.
Stocks made a strong comeback Thursday The S&P 500 rose 0.21% to end at 5,809.86, snapping a three-day losing streak. The tech-focused Nasdaq Composite gained 0.76% to close at 18,415.49.
On the flip side, the Dow Jones Industrial Average recorded its fourth straight day of losses, closing 0.33% lower at 42,374.36.
The rally was bolstered by a massive 22% jump in shares of electric vehicle giant Tesla after it reported higher-than-expected third-quarter earnings. Thursday marked the company's best day since 2013.
Additionally, the benchmark 10-year Treasury yield dropped below 4.20%, a reversal from the three-month highs earlier this week.
See More: Best Cryptocurrency Scanners
Analyst Notes: Popular cryptocurrency analyst and trader Rekt Capital said that a weekly close above $67,900 would be the most bullish outcome for Bitcoin under present conditions.
The analyst repeated his previous stance of a "successful retest."
A widely followed cryptocurrency trader known by the moniker Nihilus disputed predictions of a new Bitcoin low, instead predicting a retreat before a climb to new highs.
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