Bitcoin Price Falls Under $60,000
The cryptocurrency market faced a significant downturn as Bitcoin's price fell below the $60,000 mark. According to Decrypt, this decline resulted in over $150 million worth of long positions being liquidated across various cryptocurrencies. The drop was attributed to several factors including geopolitical tensions and regulatory actions by the SEC against trading firm Cumberland DRW. Despite these challenges, Ethereum remained relatively stable at around $2,368 while Solana experienced a slight decrease.
XRP Price Predictions Amid Bullish Market Sentiment
A report from The Crypto Basic highlighted optimistic predictions for XRP if Bitcoin reaches an all-time high of $115K and Ethereum hits $8,000. Analyst "Altcoin Moe" suggested that XRP could see nearly eight-fold gains under such conditions. This bullish outlook comes amid renewed optimism in the crypto market following recent surges in major assets like Bitcoin and Ethereum.
Top 3 Cryptocurrency Price Predictions: BTC Finds Support Around Key Levels
FXStreet reported on key support levels for leading cryptocurrencies including Bitcoin (BTC), which is finding stability around its 200-day EMA at approximately $60,024. Meanwhile, Ethereum faces resistance near its daily level of about $2,461 but could potentially rise if it breaks through this barrier. Ripple (XRP) remains consolidated between specific ranges indicating trader indecision during current market fluctuations.
Bitcoin Drops After CPI Data Release
The release of U.S. Consumer Price Index data led to a sharp 3% drop in Bitcoin prices reaching lows not seen for three weeks according to Crypto Times' analysis. Concerns regarding potential Federal Reserve interest rate decisions contributed significantly towards investor caution resulting ultimately in substantial liquidation events affecting thousands globally within just one day alone!
Crypto Prices React To US Inflation Figures With Mixed Results Across Altcoins Sector
An article published by Gadgets360 noted how higher-than-expected inflation figures impacted overall valuations causing minor losses throughout most altcoin sectors despite some retaining profits amidst volatile conditions driven largely due to external economic pressures influencing traditional financial markets worldwide today!
Sources:
- Bitcoin Price Falls Under $60,000 as $150 Million in Crypto Longs Get Rekt
- Expert Predicts XRP Price if BTC Hits $115K and ETH Reaches $8,000
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC finds support around $60,000
- Bitcoin Price Drops 3% to $58,900 Low After CPI Data Release
- Crypto Price Today: Bitcoin Slips Under $61,000 Owing to US’ CPI Data, Most Altcoins Retain Profits
- Bitcoin Price Holds Steady Despite SEC's Case Against Market Maker Cumberland DRW
- Ethereum, XRP, and Solana Technical Analysis Following US Inflation Data
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