Bitcoin Taps $98,000, Ethereum, Dogecoin Steady As Fed Chair Jerome Powell Raises Trump Tariff-Induced Concerns: Analyst Says ETH Holding Above ‘Crucial Level’ And Begins Its ‘Bounce Upwards’
Leading cryptocurrencies traded sideways on Wednesday, as the Federal Reserve warned of macroeconomic dangers from President Donald Trump’s tariff moves.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:00 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | +0.53% | $98,018.94 |
| Ethereum (CRYPTO: ETH) |
-0.89% | $1,830.59 |
| Dogecoin (CRYPTO: DOGE) | -0.88% | $0.1721 |
What Happened: Bitcoin encountered tough resistance in the mid-$97,000s throughout the day before breaking the barrier overnight and recovering $98,000 for the first time since Feb. 21.
Bitcoin’s market dominance rose to a yearly high of 64.4%, signaling continued capital rotation from other assets to the apex cryptocurrency.
Ethereum recovered after falling to an intraday low of $1,788.69 in a turbulent trading session that saw volume soar up to 220%.
Over $184 million was liquidated from the cryptocurrency market in the last 24 hours, with bearish bets accounting for the majority.
Bitcoin’s Open Interest dropped marginally by 0.78% in the last 24 hours. Interestingly, over 63% of the Bitcoin derivatives traders on Binance bet against the leading cryptocurrency.
The “Greed” …
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