Bitcoin, Ethereum, XRP, Dogecoin Gain After BTC Reserve Bill Advances: Analyst Says He's Not 'Panicking' Despite Rate Hikes — 'Ready for Anything'
Leading cryptocurrencies lifted late on Wednesday after a House Committee moved forward with a bill to establish a Strategic Bitcoin Reserve. Cryptocurrency 24-Hour Gains +/- Price (Recorded at 9:17 p.m. EDT) Bitcoin (CRYPTO: BTC) +1.27% $76,441.89 Ethereum (CRYPTO: ETH) +1.53% $2,429.43 XRP (CRYPTO: XRP) +2.08% $1.30 Solana (CRYPTO: SOL) +2.67% $99.24 Dogecoin (CRYPTO: DOGE) +1.73% $0.08103 Crypto Market’s Late Rally Bitcoin surged late in the evening as the Strategic Bitcoin Reserve bill passed the House Financial Services Committee for congressional consideration. Ethereum and other altcoins also recorded a spike. Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ: MSTR ) and Bitmine Immersion Technologies Inc. (NYSE: BMNR ) closing down 2.64% and 3.35%, respectively. Over $330 million was liquidated from the cryptocurrency market in the last 24 hours, with $185 million in bearish short bets evaporated, according to Coinglass data. Bitcoin’s open interest rose 0.68% over the last 24 hours, in line with the spot price increase. Smart money sentiment, which refers to the collective outlook and capital allocation of institutional investors, turned "extremely bullis
Leading cryptocurrencies lifted late on Wednesday after a House Committee moved forward with a bill to establish a Strategic Bitcoin Reserve. m. 08103 Crypto Market’s Late Rally Bitcoin surged late in the evening as the Strategic Bitcoin Reserve bill passed the House Financial Services Committee for congressional consideration. Ethereum and other altcoins also recorded a spike.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ: MSTR ) and Bitmine Immersion Technologies Inc. 35%, respectively. Over $330 million was liquidated from the cryptocurrency market in the last 24 hours, with $185 million in bearish short bets evaporated, according to Coinglass data.
68% over the last 24 hours, in line with the spot price increase. m. 79% drop in the last 24 hours. Read Also: Ethereum Is 'the Big Daddy' but Raoul Pal's Biggest Bet Is Elsewhere Stocks Slide After Rate Hike The stock market sank deeper on Wednesday.
90. 42. 00%, marking its first rate hike since 2023. The Federal Open Market Committee noted “elevated” inflation in its policy statement.
What’s the Next ‘Major’ Accumulation Zone? Ali Martinez, a widely followed cryptocurrency analyst and trader, said they’re not panicking due to the rate hike. ” “If the market gives me that opportunity, I’ll be ready,” he added. READY FOR ANYTHING!
If the rate hike triggers a Bitcoin $BTC sell-off, I’m not panicking. I’m watching the Short-Term Holder Realized Price near $71,200 as my next major accumulation zone. If the market gives me that opportunity, I’ll be ready. ” “But when expectations become this one-sided, remember that markets typically always move in the opposite direction of the extreme group-think,” the firm added.
🚀 August 19-21 marked the first mood flip. Bitcoin raced toward $80K as Treasury buybacks eased yields and more than $4B in crypto shorts were liquidated, while social chatter became heavily focused on higher prices. com