Bitcoin Grapples with $28K Resistance, but ‘Uncorrelated Asset’ Allure Could Mean Higher Prices, Says Analyst
Bitcoin is on track for gains on Friday despite bearish U.S. jobs numbers which initially sent the crypto down nearly 2%.
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ETH price
Bitcoin is on track for gains on Friday despite bearish U.S. jobs numbers which initially sent the crypto down nearly 2%.
Ether’s price dropped to its lowest price compared to bitcoin since July 2022 as the launch of futures-based ETH ETFs attracted meager interest from investors.
Cryptocurrency markets surged higher Thursday, with the price of bitcoin (BTC) breaking above the $27,000 level for the first time alongside easing macro pressures.
ETH has given up its deflationary status as network fees are falling, putting pressure on the price of the second largest cryptocurrency.
BTC slid to $26,500 as interest rates and the U.S. dollar surged while equities declined.
The recent decline in the ETH/BTC ratio continues a trend that began more than a year ago.
There’s a high probability of approval on or before the SEC’s final deadline in mid-October for a decision on the first ether futures ETF in the U.S.
ETH fell to as low as $1,547 last Thursday, its lowest price since June.
Altcoins are leading declines, with majors like DOGE, SOL and MATIC shedding 6-7% in the past 24 hours.