Gold Hits New Highs, While Bitcoin, Ethereum, Dogecoin Move Sideways After Fed Keeps Rates Steady: Analyst Sees BTC’s Move To $95,000 If This Happens
Leading cryptocurrencies and stocks traded flat on Wednesday, while gold extended its record-breaking rally as Federal Reserve Chair Jerome Powell said that rate cuts are not “anybody’s base case” currently.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 8:25 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.44% | $88,918.51 |
| Ethereum (CRYPTO: ETH) |
-0.50% | $2,998.87 |
| XRP (CRYPTO: XRP) | -0.24% | $1.89 |
| Solana (CRYPTO: SOL) | -1.89% | $124.65 |
| Dogecoin (CRYPTO: DOGE) | -0.87% | $0.1241 |
Bitcoin’s Rally Stalls At $90,000
Bitcoin bulls attempted a breakout above $90,000 but ran into heavy resistance, sending it back toward $88,000.
Ethereum broke past $3,000 but couldn’t hold it for long. Trading volume for the second-largest cryptocurrency plunged 21% over the last 24 hours.
Shares of cryptocurrency-related companies, including Strategy Inc. (NASDAQ:MSTR) and Coinbase Global Inc. (NASDAQ:COIN), closed down 1.94% and 0.66%, respectively.
Roughly $233 million was liquidated from the market in the last 24 hours, according to Coinglass, with nearly an equal amount of bullish longs and bearish shorts wiped out.
Bitcoin’s open interest fell 0.49% in the last 24 hours, matching the decline in its spot price. That said, the majority of retail and whale accounts on Binance holding …
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