Bitcoin Surges Back To $112,000 As Ethereum, XRP, Dogecoin Rally On Fed's Crypto Payment Signals

Benzinga

Bitcoin spiked to $114K after the Fed signaled plans to explore payment accounts for crypto firms. Over $557M in positions were liquidated as traders watched key resistance at $116K for the next major move.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Bitcoin briefly surged $114,000 on Tuesday after the Federal Reserve announced plans to explore

00:08payment accounts for crypto firms, potentially granting them access to Fed systems, according

00:12to Benzinga. CoinGlass reported $557.15 million in liquidations over 24 hours, with MYX Finance,

00:19Plasma, and Double Zero among the top losers. Traders noted Bitcoin's ongoing consolidation

00:24between $107,000 and $112,000, with resistance near $116,000 due to the threshold for renewed

00:31upside momentum. Analysts said roughly $12 billion in short positions could be liquidated on a 10%

00:36rally, while a 10% drop could imperil $6.98 billion in longs. For all things money, visit Benzinga.com.

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