Bitcoin, Ethereum, Dogecoin Rangebound As Fed Chair Jerome Powell Highlights Tariff-Induced Uncertainty: Analyst Says These 2 Levels Are Key For BTC
Leading cryptocurrencies moved sideways Wednesday as Federal Reserve Chair Jerome Powell signaled slower growth and hotter inflation after the central bank left interest rates unchanged.
Cryptocurrency | Gains +/- | Price (Recorded at 9:50 p.m. ET) |
---|---|---|
Bitcoin (CRYPTO: BTC) | -0.15% | $104,630.33 |
Ethereum (CRYPTO: ETH) |
-0.27% | $2,515.68 |
Dogecoin (CRYPTO: DOGE) | +0.37% | $0.1698 |
What Happened: Bitcoin consolidated in the $104,000-$105,000 range, with trading volumes plummeting 11% in the last 24 hours.
Similarly, Ethereum fluctuated around $2,500, with an 18% volume decline indicating a lack of interest among traders.
Both assets have stagnated in June after their May surges, with BTC up 0.23% and ETH up 0.03%.
Over $224 million was liquidated from the cryptocurrency market in the last 24 hours, with long position traders bearing the brunt of the losses.
Bitcoin’s Open Interest dipped 1.24% in the last 24 hours, while ETH recorded a 2.35% fall in funds locked in its derivatives contracts.
Meanwhile, the percentage of Binance traders with long BTC positions fell in the last 24 hours, according to the Long/Short ratio.
The market sentiment …