Bitcoin trades sideways between $59,900 and $61,000. The overall crypto market cap slightly retreated to $2.1 trillion after failing to break through the $2.15 trillion mark.
Meanwhile, as one firm predicted, the total value locked in Ether Liquid Staking Derivatives is on track to double by August 2025.zigzagged between $61,000 and $59,900 in the past 24 hours, continuing its sideways price action amid the lack of notable catalysts to fuel a move in either direction. Separately, some news outlets reported that Robert Kennedy Jr. was planning to drop out of the 2024 presidential race by the end of this week and would endorse Republican Donald Trump, who has positioned himself as a pro-crypto President if elected.The price jump was short-lived, however, as traders quickly took profits and sent BTC tumbling back to as low as $59,900. It recovered to over $60,800 in Asian trading hours Thursday, leading to slight market-wide gains.
“Yesterday, the main institutional demand seemed to be for other assets, such as gold,” he added. The precious metal set record highs on Tuesday amid a weaker dollar and buying by investors favoring safer assets.