Major cryptocurrencies fell on Wednesday, with the price of BTC falling below $67,000 during US trading hours.
| cryptocurrency | Gain +/- | Price (recorded at 12:00 AM EDT) |
| Bitcoin (Cryptocurrency: BTC) | -0.69% | $66,667 |
| Ethereum (Crypto: ETH) | -1.04% | $3,281 |
| dogecoin (Code:Doge) | -5.83% | $0.17 |
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what happened: The decline in price action came after Bitcoin saw two small gains on Wednesday.
The initial jump followed a report on weaker-than-expected U.S. services industry growth in March. The second rate hike followed a statement from the Fed chairman. Jerome PowellHe expressed hope for rate cuts this year, even though both inflation and the economy remain strong.
on wednesday, ADP The number of private sector employees rose to 184,000 in March, exceeding the 155,000 in February and the expected 148,000. The government's long-awaited non-farm payrolls report scheduled for Friday morning is expected to be a major employment event, with economists predicting a rise of 200,000 jobs.
Top Gainer (24 hours)
| cryptocurrency | Gain +/- | Price (recorded at 12:00 AM EDT) |
| biget (cipher:BGB) | +14.37% | $1.35 |
| Ethena (Code:ENA) | +12.43% | $0.98 |
| Bitcoin SV (Code:BSV) | +5.80% | $92.81 |
The global cryptocurrency market capitalization is currently $2.49 trillion, down 1.46% in the past 24 hours.
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The Dow Jones Industrial Average closed slightly lower on Wednesday as stocks continued to struggle with second-quarter weakness. The Dow 30 fell 43.10 points (0.11%) to close at $39,127.14, marking the third consecutive day in the red.
Meanwhile, the S&P 500 rose 0.11% to close at 5,211.49, its first positive trade of the week. The Nasdaq Composite Index rose slightly by 0.23% to end at 16,277.46.
The continued challenge of rising interest rates continued to impact stock prices. ADP figures released on Wednesday revealed that private payrolls rose higher than expected in March, providing further evidence of the economy's resilience. The move comes as investors grow increasingly nervous about the trajectory of the Federal Reserve's interest rate cuts.
look more: best cryptocurrency scanner
analyst notes: Virtual currency analyst michael van de poppe Bitcoin is currently falling in value, suggesting it could peak before the halving. Van de Poppe believes two key factors point to the possibility that the all-time high (ATH) will not be reached before the halving.
“If Bitcoin drops further in the summer, I'll happily buy it for $56,000 to $60,000. It's still altcoin time.”
Co-founder of Glassnode Jan Happel and Yan AlemanThey, who go by the handle Negentropic on social media platform
“How should I study BTC? When I look at BTC on a regular chart, the blow-off top target appears to be ~$112,000. But when I look at BTC on a logarithmic chart, it appears to be ~$250,000. “That's a high goal. Still, we're aware of the long-term divergence. Bull markets have an end.”
#bitcoin
how should i study #BTC?
If you look at BTC on a regular chart, the target is #Blow-off top It looks like ~112K.
However, if you look at BTC on a logarithmic chart, up to 250,000 could be the target.
Still, we are noticing long-term divergences.Rally has an end date pic.twitter.com/Q5KXU6743l
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