Major coins traded in the red on Thursday as global market cap fell 1.75% to reach $1.04 trillion recorded at 8:30pm EST.
What happened: The largest cryptocurrency by market value, Bitcoin Bitcoin/USDfell more than 2% below $23,000. ethereum Ethereum/USD was trading down 3.4% at $1,567. dogecoin Doge/US Dollar Down 1.69% over the last 24 hours, it is trading at $0.085.
US stocks surged as investors understood the latest GDP report and its positive impact on the economy. The tech-rich Nasdaq Composite rose 1.7%, the S&P 500 rose 1.1% and the Dow Jones Industrial Average rose 0.6%.
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“Bitcoin held back losses as hopes for a soft landing returned following better-than-expected US GDP data. Bitcoin is poised to consolidate here until next week’s FOMC decision. One of the notable crypto stories is the fine imposed on Coinbase by the Dutch Central Bank for offering crypto products before registration.This $3.6 million While the fine is a slap on the wrist, it is another reminder of the ongoing global crackdown on cryptocurrencies. Edward MoyaThe note was seen by Benzinga, who is a senior market analyst at OANDA.
crypto analyst Michael van de Poppe “We would all be laughing” at the current BTC and ETH prices in just a few years, he said.
As for BTC, analysts have said they are not interested in going long at Bitcoin’s current price levels.
Poppe is an altcoin phantom FTM/USD When polygon Matic/USD I am flying now. “FTM and MATIC break through the roof”
Cryptocurrency analyst Justin Bennett says Bitcoin is currently at its all-time high trendline.
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