Bitcoin, Ethereum, XRP, Dogecoin Decline After Federal Reserve Holds Rates
Cryptocurrency markets are trading down after the Federal Reserve decided to keep the Federal Funds rate unchanged.
Notable Statistics:
- IntoTheBlock data shows Bitcoin and Ethereum large transaction decreased by 9.6% and 20.8%, respectively. Daily active addresses moved higher by 2.5% and 12.7%, respectively.
- Coinglass data shows 108,863 traders were liquidated in the past 24 hours for $216.32 million.
- The top losers in the past 24 hours include SPX6900, Bonk and Conflux.
Notable Developments:
- JPMorgan Partners With Coinbase To Expand Crypto Access For 80M Customers
- ‘Turkey’s Uber’ Joins Strategy, Tesla As Bitcoin Treasury Company
- 300% Growth In High-Inflation Nations: Why Stablecoins Are Booming Where Fiat Is Failing
- Ethereum Foundation Faces Backlash For ‘Dumping’ $100 Million ETH After Saying ‘Believe In somETHing’
- FIS, Circle Team Up To Enable Stablecoin Transactions For Financial Institutions
Trader Notes: Crypto trader CrediBULL Crypto suggests Bitcoin may be mirroring a prior consolidation pattern, referencing his signature "GREEN squiggles." He expects few days of tight, sideways chop before a potential breakout or expansion move.
Ted Pillows highlights that Bitcoin has remained range-bound for weeks, even as global liquidity steadily rises.
He says the lag is temporary, reminiscent of Q2 behavior, and predicts BTC will soon catch up with macro tailwinds, targeting above $135,000 in Q3.
Henry aka LordOfAlts remains undeterred by short-term volatility, calling the current pullbacks “noise within a larger bullish structure.”
He notes whales are taking profits and Bitcoin is forming a bullish pennant, with recent downside pressure likely meant to trigger liquidations.
He sees a fourth touch near $114,000 as a key long entry, aligning with his long-term "buy the fear, sell the greed" thesis. Henry expects one final “Oops moment” before Bitcoin's next parabolic breakout.
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Posted-In: Cryptocurrency News