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cryptocurrency market faces sell-off as economic data dampens rate cut hopes

Leading cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced significant sell-offs as economic data dampened rate cut expectations. Bitcoin fell to $96,200, while Ethereum dropped nearly 9% to $3,880, contributing to a $559 million liquidation in the crypto market.The global cryptocurrency market cap decreased by 5.29% to $3.39 trillion, mirroring declines in major stock indices. Analysts suggest that Bitcoin's support at $97,000 is crucial; a break below could lead to further declines, while a rebound may follow if support holds.
benzinga.com/25/01/42865751/bitcoin-ethereum-dogecoin-join-equities-in-sell-offs-as-economic-data-tempers-rate-cut-hopes-heres-why-97k-holds-significance-for-btc
Dow Jones Industrial Average NASDAQ Composite S&P 500 Grayscale Bitcoin Mini Trust ET Shutterstock, Inc. Ali Martinez Show more
Finance & Economy, Market Report
03:43 08.01.2025
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