Bitcoin, Ethereum Rise, Dogecoin Steady After Fed Cuts Rate: Analyst Predicts Apex Crypto’s Next Local Top At $85.4K If This Happens
Bitcoin tapped an all-time high, and Ethereum soared as the Federal Reserve’s latest quarter-point rate cut boosted market momentum on Thursday.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +1.46% | $76,365.42 |
| Ethereum (CRYPTO: ETH) |
+8.52% | $2,938.85 |
| Dogecoin (CRYPTO: DOGE) | -0.92% | $0.1943 |
What Happened: The world’s largest cryptocurrency hit a new all-time high at $76,872.61, barely two days after creating records on the day of the U.S. presidential election.
Ethereum powered above $2,900 for the first time in more than three months in a late-evening rally.
Bitcoin’s market dominance rose above 60%, following a 3.44 percentage point gain in the last 24 hours, while Ethereum also saw a minor increase in market share.
In the past 24 hours, 89,458 traders were liquidated, with the total liquidations coming in at $311.71 million. Short-leveraged traders saw $186 million worth of their positions evaporate in the rally.
Bitcoin’s Open Interest rose 2.88%, indicating an influx of fresh money in the derivatives market.
Bitcoin’s Relative Strength Index (RSI) went into the overbought territory, as per TradingView, strengthening the case of a pullback.
That said, …
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