Bitcoin, Ethereum, XRP, Dogecoin Fail To Sustain Rally: Analyst Says BTC 'Struggling A Bit' At Key Resistance, But It Could 'Fly' If It Breaks Through

Benzinga

Major cryptocurrencies dipped as traders priced in higher odds of a Fed rate cut. Bitcoin stalled below $92k, Ethereum retreated from $3,220, and crypto-linked stocks like Coinbase also slipped, with liquidations topping $266 million.

Transcript

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

00:03Leading cryptocurrency slipped on Thursday as traders weighed rising expectations for

00:07interest rate cuts, while major stock indexes extended gains. Bitcoin lost momentum and

00:12consolidated between $91,000 and $92,000 as trading volume fell 19% in a 24-hour period.

00:20Ethereum briefly tested $3,220 before dropping to $3,070 and later recovering some ground.

00:28Cryptocurrency-linked stocks also declined, with strategy down 1.26% and Coinbase down

00:351.04%.

00:37Coinglass reported $266 million in liquidations over the last 24 hours, including nearly $80

00:44million in long positions.

00:46Analysts pointed to key resistance levels at $92,000 for Bitcoin and $3,100 to $3,150 for

00:54Ethereum.

00:55The global crypto market cap fell 0.92% to $3.14 trillion.

01:01The CME FedWatch tool shows an 87% probability of a 25 basis point rate cut next week.

01:07For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended