Bitcoin Recovers Amid Trump’s Potential Fed Majority; Ethereum, Dogecoin, XRP Also Gain; Analyst Expects ETH To Consolidate In This Range
Leading cryptocurrencies rebounded Tuesday amid increased expectations of a rate cut following Federal Reserve Governor Lisa Cook’s removal and President Donald Trump getting a potential majority on the central bank’s board.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:20 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +1.33% | $111,266.47 |
| Ethereum (CRYPTO: ETH) |
+4.11% | $4,559.95 |
| XRP (CRYPTO: XRP) | +4.09% | $2.99 |
| Solana (CRYPTO: SOL) | +3.68% | $194.69 |
| Dogecoin (CRYPTO: DOGE) | +3.32% | $0.2168 |
Cryptos Stage A Comeback
Bitcoin made a sharp recovery past $112,000 late evening, recouping some of Monday’s losses. Ethereum also reclaimed $4,600, easing around $4,550 as of this writing.
Bitcoin’s market share fell further to 57.5%, while Ethereum’s dominance rose to 14.3%, its highest since early November of last year.
About $280 million was liquidated from the cryptocurrency market in the last 24 hours, with nearly equal amounts of longs and shorts wiped out.
However, a tumble to $180,000 could erode more than $620 million in Bitcoin long positions.
Bitcoin’s open interest dipped 0.20% over the last 24 …
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