Bitcoin fell this Wednesday evening, losing around 1.5% to fall to $110,900 while Trump’s team continued to speak harshly about China. Ethereum was hit even harder, falling more than 2% to $3,995 after briefly falling below $4,000 before bouncing off support around $3,900.
The rest of the major plays also had a rough night. XRP fell 3.4% to $2.41Solana was crushed by 4.15% to $194and Dogecoin fell 3.4% to barely stay above 19 cents. The entire crypto market lost more than 2% to $3.75 trillion as everyone remained scared.
Bitcoin ETFs lost more than $90 million on Tuesday as institutional money continued to head for the exits. Liquidations totaled $442 million in just 24 hours, with nearly $400 million from long positions wiped out. Trading volume dried up as Bitcoin drifted around $111,000 without much conviction either way.
Stocks had a decent day, however, with the S&P 500 up 0.4% and the Nasdaq up 0.7%. This happened even though Treasury Secretary Scott Bessent said the recent market carnage would not stop them from taking “strong action” against China. Meanwhile, gold continued to rise, surpassing $4,200 per ounce.
A crypto analyst highlighted that Ethereum must keep $3,900or things could get ugly. If this holds, his model says it could reach $5,000 or even $6,000.
Conclusion
Bitcoin fell 1.5% to $110,900 on Wednesday as the Trump administration maintained an aggressive stance towards China, while Ethereum tested the crucial $3,900 support level amid continued market fear.
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