Bitcoin, Ethereum, XRP, Dogecoin Slide as Rate Hike Odds Jump: Analyst Says BTC Target Remains At $100,000 Despite the Dip
Leading cryptocurrencies corrected on Wednesday as hot macro data signaled the chance of another rate hike. Cryptocurrency 24-Hour Gains +/- Price (Recorded at 9:18 p.m. EDT) Bitcoin (CRYPTO: BTC) -2.20% $84,260.46 Ethereum (CRYPTO: ETH) -2.60% $2,682.14 XRP (CRYPTO: XRP) -4.50% $1.50 Solana (CRYPTO: SOL) -2.90% $115.36 Dogecoin (CRYPTO: DOGE) -7.50% $0.09294 Crypto Market Reverses Bitcoin descended from $87,000, hitting an intraday low of $83,654.39. Ethereum also retreated to $2,600, while XRP and Dogecoin recorded sharper declines Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ: MSTR ) and Bitmine Immersion Technologies Inc. (NYSE: BMNR ) closing down 3.07% and 4.52%, respectively. Over $540 million was liquidated from the cryptocurrency market in the last 24 hours, with long positions taking the heaviest losses, according to Coinglass data. Bitcoin’s open interest plummeted 6.63% over the last 24 hours. BTC’s Long/Short ratio dipped below 1, meaning a large number of traders are actively taking short positions. Top Gainers (24 Hours) Cryptocurrency Gains +/- Price (Recorded at 9:18 p.m. EDT) Bitway (BTW) +18.70% $1.06 Stable (STABLE) +9.90% $0.02726 Lighter
Leading cryptocurrencies corrected on Wednesday as hot macro data signaled the chance of another rate hike. m. 39. Ethereum also retreated to $2,600, while XRP and Dogecoin recorded sharper declines Cryptocurrency-related stocks also fell, with Strategy Inc.
(NASDAQ: MSTR ) and Bitmine Immersion Technologies Inc. 52%, respectively. Over $540 million was liquidated from the cryptocurrency market in the last 24 hours, with long positions taking the heaviest losses, according to Coinglass data. 63% over the last 24 hours.
BTC’s Long/Short ratio dipped below 1, meaning a large number of traders are actively taking short positions. m. 60% in the last 24 hours. Read Also: Bitcoin Could Deliver '3-5x Rather Than Another 10x' This Cycle, Analyst Says Stocks Plunge As Rate Hike Bets Spike Stocks faced heavy sell-offs on Wednesday.
59. 04. The yield on the 10-year Treasury note surged to its highest level since 2007 after the latest Purchasing Managers’ Index readings came in higher than expected. Traders are now pricing in a nearly 70% chance of another 25-basis-point rate hike next month, according to the CME FedWatch tool.
A Dip Before Rip? Ali Martinez, a widely followed cryptocurrency analyst and trader, flagged a “double bottom” pattern on Bitcoin’s daily chart, suggesting the $82,500 horizontal neckline will remain as a key support. “The target remains $100,000,” Martinez added. Bitcoin $BTC double bottom suggests the $82,500 neckline will hold as support.
The target remains $100,000. 22% over the last two months. “Santiment’s five-year analysis found 100-1,000 BTC wallets particularly have correlated quite closely with crypto market direction, with accumulation often appearing before or during stronger price periods,” the firm stated. 🐳 Bitcoin’s 100-1,000 $BTC wallets are accumulating fast.
24M BTC. 🧠 This wallet tier has historically been one of Bitcoin’s most useful smart money groups to watch. com