Has my stock been accused of fraud?Join over 160k users who know.

Ticker Price Change($) Change(%) Shares Volume Prev Close Open Gain($) Gain(%)
Ticker Status Jurisdiction Filing Date CP Start CP End CP Loss Deadline
Ticker Case Name Status CP Start CP End Deadline Settlement Amt
Ticker Name Date Analyst Firm Up/Down Target ($) Rating Change Rating Current

News

Bitcoin, Ethereum, Dogecoin Hold On To Gains Made After Fed's Rate Cut Signal: Analyst Sees No 'Significant' Resistance For King Crypto Until $85K

Author: Aniket Verma | August 25, 2024 10:28pm

Leading cryptocurrencies consolidated over the weekend after the Federal Reserve's dovish signal spurred a rally.

CryptocurrencyGains +/-Price (Recorded 9:15 p.m. EDT)
Bitcoin (CRYPTO: BTC)-0.16%$64,196.74
Ethereum (CRYPTO: ETH)
               
-0.22%$2,755.76
Dogecoin (CRYPTO: DOGE)          -1.35%$0.1104

What Happened: Bitcoin briefly hit $65,000 Sunday before relegating to the $64,000 region, where it fluctuated for most of the weekend. Ethereum also pulled back from $2,790 to settle around $2.750. 

The total cryptocurrency liquidations hit $74.33 million in the last 24 hours, with long liquidations accounting for $48.22 million.

Bitcoin's Open Interest remained flat, rising just 0.18% in the last 24 hours

The Cryptocurrency Fear & Greed Index flashed "Greed" as of this writing, reflecting a marked improvement from last week’s “Fear” sentiment.

Top Gainers (24-Hours)

CryptocurrencyGains +/-Price (Recorded at 9:15 p.m. EDT)
Artificial SuperIntelligence Alliance (FET)+8.65%$1.36
Bittensor (TAO)+4.97%$351.85
Sei (SEI)+4.89%$0.3548

The global cryptocurrency market stood at $2.25 trillion, following a marginal drop of 0.63% in the last 24 hours.

Stock futures were broadly flat Sunday evening. The Dow Jones Industrial Average Futures gained 0.04% as of 9 p.m. EDT. Futures tied to the S&P 500 added 0.08%, while Nasdaq 100 Futures ticked 0.15% higher.

The market was upbeat after Fed Chair Jerome Powell delivered a clear message about lowering interest rates next month. 

According to the CME FedWatch tool, investors have priced in a 61% chance of the central bank cutting rates to 5%–5.25%, down from the current 5.25%–5.5%.

See More: Best Cryptocurrency Scanners

Analyst Notes: Widely-followed cryptocurrency trader Poseidon stated that their bias would remain bullish as long as Bitcoin stays above $60,000.

"I don’t see any significant resistance until we reach $85,000," the trader remarked.

Prominent cryptocurrency analyst Rekt Capital drew attention to the historical post-halving price trajectory of Bitcoin, based on which they projected the leading cryptocurrency's breakout from the ongoing consolidation phase by late September.

Read Next:    

Photo courtesy: Shutterstock

Posted In: $BTC $DOGE $ETH BTC

CLASS ACTION DEADLINES - JOIN NOW!

NEW CASE INVESTIGATION

CORE Finalist