The BTC increased by 1.7% to $ 107,500 while the total cryptography market capitalization fell by 1%.
The cryptocurrency market remained stable on Wednesday, after two days of earnings pulled by the softening of tensions in the Middle East.
Bitcoin (BTC) increased by 1.7% on the day to $ 107,500, while Ethereum (ETH) was held stable at $ 2,420. XRP displayed a modest gain of 0.6% to $ 2.20, and Solana (soil) remained unchanged at $ 145.
The total market capitalization of the cryptocurrency decreased by 1% in the last 24 hours to around 3.42 billions of dollars. Levary effects have totaled around $ 222 million during the same period, according to Coinglass. BTC liquidations amounted to nearly $ 73 million, while ETH followed with $ 62 million. Altcoin liquidations have totaled around $ 19 million.
Us Spot Bitcoin Traded Funds (ETF) recorded $ 588 million in entries on June 24, the highest in more than a month. Meanwhile, Spot ETH ETF reported $ 71 million in entries, according to Sosovalue data.
Experts attribute today today’s deaf market movement to the waiting approach to the federal reserve, which the president of the Fed, Jerome Powell, reiterated on Tuesday. Powell, while testifying to the Chamber’s Financial Services Committee, noted that inflation is still greater than the 2% target of the Fed.
“Policy changes continue to evolve and their effects on the economy remain uncertain,” said Powell. “The effects of prices will depend, among other things, on their ultimate level.”
Powell’s approach “underlines short -term uncertainty in rate policy,” said Bitunix analysts. “It is advisable for traders to remain cautious near the resistance areas.
They added that Powell’s remarks “offer markets flexibility and overall support risk assets, but investors should closely monitor pricing and future inflation data.”
Geopolitical tensions also weigh on the feeling of investors, because the conflict involving Iran, Israel and the United States show no signs of softening.
During the weekend, the United States has targeted three Iranian nuclear sites. On Tuesday, President Donald Trump announced a cease-fire; However, reports from a subsequent Israeli strike against Tehran have since caused confusion and uncertainty.
“Geopolitical problems, such as wars or sanctions, generally have an impact on traditional markets, such as actions and raw materials, first and most directly,” said Werner Broennimann, director of investments, and Sonali Gupta, research manager at Amina Bank, in a joint declaration shared with the Deviant.
“In the long term, cryptocurrencies, on the other hand, are generally affected mainly when these events meet with the ecosystem of digital assets, such as the use of crypto to bypass traditional financial channels or facilitate cross-border donations,” they added.
