Bitcoin Retreats On Jerome Powell’s Neutral Tone; Ethereum, XRP, Dogecoin Also Fall: Analyst Says BTC Could Run Toward $100,000 If This Happens
Leading cryptocurrencies gave up gains on Wednesday as Federal Reserve Chair Jerome Powell’s remarks cooled expectations for rate cuts in 2026.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:10 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.14% | $91,244.67 |
| Ethereum (CRYPTO: ETH) |
-1.39% | $3,310.83 |
| XRP (CRYPTO: XRP) | -3.09% | $2.02 |
| Solana (CRYPTO: SOL) | -2.65% | $133.84 |
| Dogecoin (CRYPTO: DOGE) | -4.03% | $0.1409 |
Crypto Rally Fizzles Out
Bitcoin popped to an intraday high of $94,477.16 in the afternoon but couldn’t hold onto the gains, pulling back to the $91,000 region by late evening.
Ethereum followed a similar trajectory, retreating sharply from its highs of $3,436 to $3,260 overnight. XRP and Dogecoin also descended after sharp upticks.
Shares of cryptocurrency-linked stocks such as Strategy Inc. (NASDAQ:MSTR) and Coinbase Global Inc. (NASDAQ:COIN) closed down 2.30% and 0.82%, respectively, during the regular trading session.
Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. Find out more about MSTR and COIN here.
Cryptocurrency liquidations reached $390 million over the last 24 hours, according to Coinglass, out of which $255 million were …
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