Bitcoin, Ethereum, Dogecoin Match Stock Advances: BTC Should Flip $85,000 And $89,000 Levels For Potential Reversal, Says Analyst

Leading cryptocurrencies edged higher Monday, matching the gains made in the stock market.CryptocurrencyGains +/-Price (Recorded at 8:30 p.m. ET)Bitcoin (CRYPTO: BTC)+1.14%$83,804.15Ethereum (CRYPTO: ETH) +1.56%$1,926.45Dogecoin (CRYPTO: DOGE) +1.40%$0.1722What Happened: Bitcoin rose to an intraday high of $84,700 late afternoon before retreating to the $83,000 zone due to profit-taking. Ethereum followed a similar trajectory, rising to $1,950 and later pulling back to $1,920.Bitcoin's market dominance remained above 60% while Ethereum's share dwindled to 8.5% in the last 24 hours. Institutional interest in spot exchange-traded hands has taken a hammering due to the ongoing cryptocurrency trace, with U.S.-listed Bitcoin ETFs bleeding more than $5.5 billion over the last five weeks.Over $168 million was liquidated from the market in the last 24 hours, with short liquidations accounting for over $100 million. Additionally, if Bitcoin reclaims $87,000, a further $500 million in shorts would be wiped out.Bitcoin's Open Interest grew 1.32% in the last 24 hours, suggesting an influx of new money into the ...Full story available on Benzinga.com