Bitcoin, Ethereum, Dogecoin Erase Gains Even As Trump Reiterates ‘Crypto Capital’ Pledge: Arthur Hayes Says ‘Odds Are Shifting More Bullish’ For BTC
Leading cryptocurrencies pulled back Thursday despite President Donald Trump’s supportive remarks for the industry at an event.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -2.39% | $84,391.51 |
| Ethereum (CRYPTO: ETH) |
-2.45% | $1,987.94 |
| Dogecoin (CRYPTO: DOGE) | -4.72% | $0.1692 |
What Happened: Bitcoin breached $86,000 in early trading hours but reversed course shortly, plunging to a low of $83,647.19.
Ethereum too failed to build momentum after breaching $2,000, retreating to the upper $1,900 range.
The trajectory didn’t reflect Trump’s address at the Blockworks Digital Asset Summit, where he urged Congress to pass stablecoin legislation and reiterated his pledge to make America the world’s “undisputed Bitcoin superpower and cryptocurrency capital.”
More than $187 million was liquidated from the market in the past 24 hours, with bullish bets accounting for $129 million.
Bitcoin’s Open Interest dropped 3.85% in the last 24 hours. That said, derivatives traders seemed to buy the dip, as the percentage of traders placing bullish bets on Bitcoin surged to 51%, according to the Long/Short ratio.
The market …
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