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Bitcoin (BTC) briefly dipped below $90,000, causing market panic, but rebounded to $95,400. Ethereum (ETH) fell nearly 2% in 24 hours, while Litecoin (LTC) dropped 4% after a hack. Institutional crypto OTC trading volumes surged 106% in 2024, driven by demand for spot ETFs and a pro-crypto stance from the Trump administration. MicroStrategy continued its BTC acquisition spree, raising concerns about the sustainability of its debt-fueled strategy.
PlutoChain has emerged as a groundbreaking Layer-2 solution addressing Bitcoin's scalability issues, aiming to reduce block time to just 2 seconds. Meanwhile, Solana is stabilizing around $180 with potential for significant growth, while XRP has surged over 150%, driven by recent developments in its ecosystem. All three projects are poised to disrupt the cryptocurrency market in their unique ways.
Investors withdrew a record $680 million from Bitcoin ETFs, marking the largest outflow in months, as Bitcoin's price fell 5% to around $97,400. This decline follows the Federal Reserve's updated projections, which now anticipate only two rate cuts in 2025, leading to bearish sentiment in the market. Analysts warn that continued selling pressure could further strain market sentiment, with potential volatility ahead if Bitcoin drops below key support levels.
Solana's native token, SOL, has dropped 5.5% to $218.36 amid a broader cryptocurrency market correction, with over $1 billion in liquidations. The decline follows Bitcoin's inability to maintain a price above $100,000, negatively impacting altcoins and leading to significant losses across Solana-based tokens. Additionally, a sharp decrease in network transactions and daily revenue has contributed to the bearish sentiment, with potential support levels at $210 and $200, and a possible retest of $180 on the horizon.
Alex Kuptsikevich
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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