Leading cryptocurrencies traded flat, while stocks fell further on Wednesday as President Donald Trump authorized tapping the strategic reserve to lower oil prices.

Crypto Market Shifts Sideways

Bitcoin surged past $71,000 but met strong resistance shortly after, dropping back under $70,000 overnight. Trading volume fell 16% in the last 24 hours. Ethereum wobbled in the $2,000 region amid subdued trading volumes 

Nearly $180 million was liquidated from the cryptocurrency market over the past 24 hours, representing a notable decline from the previous day. Bearish short positions worth $102 million were wiped out.

Moreover, about $490 million in Bitcoin shorts risked liquidation if the apex…

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