Bitcoin, Ethereum, Dogecoin Climb Amid Trump-Powell Turbulence: Analyst Says BTC Could Reach $3 Trillion Market Cap By Year-End If This Happens
Leading cryptocurrencies rose alongside stocks on Wednesday as President Donald Trump denied that he plans to remove Federal Reserve Chair Jerome Powell.
| Cryptocurrency | Gains +/- | Price (Recorded at 10:50 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +0.85% | $118,233.42 |
| Ethereum (CRYPTO: ETH) |
+7.29% | $3,346.01 |
| Dogecoin (CRYPTO: DOGE) | +8.82% | $0.2139 |
What Happened: Bitcoin topped $120,000 in the evening before plummeting to a low of $117,255.02 overnight, even as trading volume dipped 21% in the last 24 hours.
The so-called ‘Crypto Week’ continued to hit roadblocks due to disagreements among GOP lawmakers regarding key cryptocurrency bills.
Ethereum recorded a steeper spike, surging past the $3,000–$3,400 resistance zone. Institutional flows supported the rally, with Cathie Wood’s Ark Invest scooping a significant number of shares of 3iQ Ether Staking ETF (ETHQ.U).
The rally hit bearish traders, with nearly $300 million in short positions getting erased in the last 24 …
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