Bitcoin falls below $93,000 amid mixed US stock market; digital asset trading volume and liquidation amounts increase

Source: BlockMedia Original Title: [New York Coin Market/Opening] US Stocks Mixed… Bitcoin Falls Below $93,000 Original Link: https://www.blockmedia.co.kr/archives/1014614

The Three Major US Stock Indices Show Mixed Trend

On the 3rd, the US market opened as it digested the ADP report showing a decrease of 32,000 in private sector jobs for November. This decline is the largest since March 2023 and fell short of expert forecasts.

As of 9:40 AM(Eastern Time) at the New York Stock Exchange(NYSE), the three major indices showed mixed trends. The Nasdaq index fell 107.60 points(-0.46%) to 23,306.07 compared to the previous trading day. The S&P 500 index slipped 5.62 points(-0.08%) to 6,823.75, showing slight weakness. The Dow index was the only one to rise, gaining 82.66 points(0.17%) to 47,557.12. Gold prices rose 0.90% to $4,258.60 per ounce.

Bitcoin Drops Below $93,000

The digital asset(virtual asset) market generally continued its upward trend. However, Bitcoin, which held above the $93,000 level the previous day, fell slightly and lost that line.

According to CoinMarketCap, a digital asset market tracking platform, Bitcoin was trading at $92,798 over the past 24 hours, up 4.57%. On a 1-hour view, it fell 0.36%. Ethereum(ETH) rose 7.60% daily to $3,084, but fell 0.27% over 1 hour.

Altcoins mostly maintained daily gains, but all showed declines on an hourly basis. XRP(XRP) rose 4.71% from the previous day. Major exchange coin(BNB) gained 5.15%, Solana(SOL) climbed 7.03%. Dogecoin(DOGE) and Cardano(ADA) were up 6.42% and 7.77% respectively. TRON(TRON) was the only one among the top 10 digital assets to drop, down 0.18%.

The digital asset market cap increased 6.27% daily to $3.15 trillion. Bitcoin dominance slipped 0.1 percentage points(%p) to 58.9%. Ethereum dominance increased 0.3%p to 11.8%. Altcoin dominance decreased 0.5%p to 29.2% compared to yesterday.

Trading Volume, Open Interest, and Liquidations Increase

According to Coinglass, total digital asset trading volume rose 25.35% over the past 24 hours. Open interest(OI), which refers to outstanding unsettled contracts, also increased 5.90%, indicating heightened volatility.

Total liquidations amounted to $490.36 million, up 36.57% from the previous day. Bitcoin liquidations were $236.24 million, surpassing Ethereum($101.69 million). Of Bitcoin liquidations, 86.5% were short positions, while Ethereum’s short liquidations made up 80.5%.

According to CryptoQuant, the Bitcoin MVRV ratio was 1.6494, up 5.85% from 24 hours ago. An MVRV below 1 is considered a low, and above 3.7 a high. Bitcoin funding rate was 0.002063, indicating similar sentiment between buyers and sellers.