Bitcoin, Ethereum, XRP, Dogecoin Reverse Gains Amid Fed Rate Cut Uncertainty: Analyst Sees ‘Potential Rebound’ For BTC
Leading cryptocurrencies retraced on Thursday, while the market mood fell back into the “Extreme Fear” category.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:50 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -2.26% | $101,065.30 |
| Ethereum (CRYPTO: ETH) |
-3.10% | $3,296.29 |
| XRP (CRYPTO: XRP) | -5.90% | $2.19 |
| Solana (CRYPTO: SOL) | -3.79% | $154.94 |
| Dogecoin (CRYPTO: DOGE) | -2.54% | $0.1614 |
Cryptos Lose Momentum
Bitcoin’s relief rally was short-lived as the apex cryptocurrency fell back to an intraday low of $100,336.87. Ethereum, XRP and Solana also gave up their previous day’s gains.
Interestingly, JPMorgan analysts were optimistic about the asset in the near term, predicting it could rise to $170,000 within 6 to 12 months.
Overall sentiment stayed subdued, with BTC and ETH still 18% and 31%, respectively, below their all-time highs set earlier this year.
In the past 24 hours, 196,202 traders were liquidated, with total cryptocurrency liquidations at $562.82 million, according to Coinglass. Nearly $370 million in bullish longs was wiped out.
Bitcoin’s open interest rose by 0.61% in the last 24 hours. A …
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