Bitcoin, Ethereum, Dogecoin Steady Amid Stock Meltdown As Fed Chair Jerome Powell Signals Crypto Rules Relaxation: Popular Analyst Identifies Key Support Level For ETH
Leading cryptocurrencies traded flat on Wednesday as Federal Reserve Chair Jerome Powell’s positive comments regarding the industry.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | 0.88% | $84,097.68 |
| Ethereum (CRYPTO: ETH) |
-0.11% | $1,584.40 |
| Dogecoin (CRYPTO: DOGE) | +0.70% | $0.1548 |
What Happened: Bitcoin reached a high of $85,428.28 in the afternoon but reversed sharply to $83,000, as trading volume dipped 1.28% in the last 24 hours.
Ethereum also had a choppy session, bouncing around $1,500, with the exception of a brief jump above $1,600.
Bitcoin’s market dominance increased to 63.1%, while Ethereum’s share fell to 7.2%.
Over $278 million was liquidated from the market in the last 24 hours, with bullish bets accounting for $160 million.
Bitcoin’s Open Interest dropped 0.13% in the last 24 hours, while the Long/Short Ratio on Binance indicated a higher percentage of traders positioned bullish on the apex cryptocurrency.
The market mood remained one of “Fear,” according to the Crypto Fear and Greed Index.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price … |
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