Bitcoin plummeted further, but Dogecoin rose as cryptocurrency investors braced for the high-stakes presidential election.

What Happened: The world’s largest cryptocurrency fell to $66,800 in the early evening before recovering above $68,000 overnight.

Donald Trump’s increasing odds on Polymarket failed to boost the leading coin, which has now erased all of its gains since the climb to near-new highs last week.

Ethereum also encountered heavy sell-offs, while Dogecoin outperformed the market with over 8% gains in the last 24 hours.

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Cryptocurrency liquidations breached $200 million in the last 24 hours, with bullish leveraged positions accounting for over 75% of the total.

Bitcoin's Open Interest dropped 0.87% in the last 24 hours. Interestingly, 60% of the top traders on the cryptocurrency exchange Binance were leveraged long on Bitcoin as of this writing.

The market sentiment remained in the "Greed" zone, as per the Cryptocurrency Fear and Greed Index, indicating the potential for higher buying pressure in the days to come.

Top Gainers (24-Hours)

The global cryptocurrency stood at $2.22 trillion, following a decline of 2.92% in the last 24 hours.

See Also: Dogecoin millionaires are increasing – investors with $1M+ in DOGE revealed!

Stock cracked ahead of the all-important election. The Dow Jones Industrial Average slipped 257.59 points, or 0.61%, to close at 41,794.60. The S&P 500 lost 0.28% to end at 5,712.69, while the tech-heavy Nasdaq Composite dipped 0.33%, closing at 18,179.98.

Additionally, prices of U.S. Treasurys rose, with the yield for the 10-Year Treasury falling to 0.3% on Monday. This suggested that investors sought refuge in risk-free investments ahead of elections.