Dogecoin, XRP Lead Crypto Rebound, Bitcoin Tops $96K as Traders Await Key Inflation Data
The selloff in stocks and cryptocurrencies could mean Donald Trump’s inauguration will less likely be a sell the news event, K33 Research said.
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The selloff in stocks and cryptocurrencies could mean Donald Trump’s inauguration will less likely be a sell the news event, K33 Research said.
The S&P 500 and the Nasdaq also fell on a report that Iran was preparing an imminent missile attack on Israel.
Solana and its ecosystem tokens look attractive compared to other altcoins and is a “clear option if looking for longs” after the market turmoil, a K33 Research analyst said.
The market will have to absorb between $4-$6 billion worth of bitcoin selling pressure throughout the summer months, weighing on prices, K33 Research said.
ETH will start outperforming bitcoin following the ETF launch after almost two and a half years of underperformance, the report said.
Recent U.S. economic data could prompt more hawkish forward guidance from the Federal Reserve.
The defunct crypto exchange will distribute 142,000 BTC and 143,000 BCH to creditors later this year, 10 years after its implosion due to a hack.
Disappointing flows into bitcoin ETFs over the past days partly resulted from investors trimming risks ahead of Wednesday’s FOMC meeting, one market observer said.
A fake report about BlackRock’s spot BTC ETF approval Monday spurred a short-lived bitcoin rally to $30,000.
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.