Crypto Market Bloodbath: Bitcoin Crashes, Altcoins Take a Beating

The adverse price developments that started after the controversial statements by the Chair of the US Federal Reserve continue today as well, with BTC dumping to under $98,000. The altcoins have been hit even more severely, with massive double-digit losses from the likes of ETH, DOGE, ADA, AVAX, LINK, and many others.

Yesterday’s price movements, which came just minutes after the latest FOMC meeting, in which Powell said the Fed couldn’t purchase bitcoin, and he warned that the rate cuts for 2025 might be halted. $98,000, and the altcoins followed suit. The primary cryptocurrency managed to recover some ground today and even spiked to nearly $103,000 hours ago. However, the asset is in another freefall state as its price plunged by several grand once again minutes ago, dumping to a weekly low of $97,500 (on Bitstamp) for now. As it dipped beneath $2.2 earlier and is now down by over 10%. Similar or even more severe price dumps are evident from DOGE, SHIB, AVAX, LINK, ADA, BCH, DOT, XLM, SUI, and even ETH. The second-largest cryptocurrency lost the important $3,500 resistance level and now sits below it after an 11% daily decline. These massive price fluctuations have harmed over-leveraged traders, with more than 330,000 such market participants getting wrecked over the past 24 hours. The total value of liquidated positions is up to over $1 billion, according to CoinGlass

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Bitcoin Nears $100K, With Crypto Market Cap at Record $3.4TShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Fuente: CoinDesk - 🏆 291. / 63 Leer más »

$200 Billion From Crypto Markets as Bitcoin (BTC) Dumps Below $93K (Market Watch)Crypto Blog
Fuente: Crypto_Potato - 🏆 568. / 51 Leer más »

Crypto market sheds $180 billion in a day as bitcoin slides further from $100,000 milestoneBitcoin’s price retreated further from the psychologically important $100,000 milestone as investors booked profits from the token’s post-U.S.…
Fuente: NBCDFW - 🏆 288. / 63 Leer más »

Bitcoin Decouples From Stock Market, Surges Amid Crypto-Friendly SentimentBitcoin has experienced a notable divergence from the stock market, particularly the tech-heavy Nasdaq Composite, while surging in value post-election. The cryptocurrency's rise is attributed to the anticipation of a more crypto-friendly environment under the incoming administration, with Bitcoin reaching near $100,000 and maintaining strong support above $90,000.
Fuente: NBCNewYork - 🏆 270. / 63 Leer más »

In new bitcoin bull market, it's time to beware of the same old crypto scamsWith bitcoin recently trading near $100,000, cybercriminals will be circling the wagons and preying on FOMO among investors.
Fuente: nbcchicago - 🏆 545. / 51 Leer más »