On Wednesday, the global cryptography market plunged 2.7 billions of dollars, because bitcoin, ether, mastiff and other cryptocurrencies have experienced their worst performance for months. This sharp decline triggered liquidations exceeding $ 700 million, according to Coinglass.
“The cryptocurrency market has been under pressure for a few days,” said Sergei Gorev, risk manager at Youhodler.
The Bitcoin price increased to $ 83,883 Wednesday afternoon, while Ether fell to $ 2,307.
Bitcoin has recently reached its lowest price since November 2024, while Ether has reached its lowest value since September 2024.
“The recent decrease in Ethereum is mainly motivated by a broader feeling of the market,” said Ruslan Liardha, market manager of Youhodler. “Bitcoin has also had a drop of almost 10% in the past two days, strengthening that it is part of a wider risk movement.”
Although it has gained importance of importance as part of the Trump administration, Dogecoin Memecoin also sang on Wednesday, falling from more than 4% to $ 0.20 – a significant decrease in its summit of $ 0.74.
Despite this, there are positive trends on the horizon. Several funds negotiated on the stock market (ETF) Altcoin should win a green light this year from the American Securities and Exchange (SEC) commission.
Bloomberg James Seyffart and Eric Balchunas analysts place the chances of a 75% Dogecoin ETF, XRP ETF 65% and Litecoin ETF 90% later this year. “We highlight relatively high chances of approval at all levels,” said Seyffart.
“These developments could support higher evaluations for (Bitcoin) and Altcoins in the coming months,” said Linkha. “However, the main risk factor remains the wider macroeconomic environment. The unfavorable macro-conditions, such as restrictive monetary policy or the instability of the financial markets, could compensate for positive impetus and weigh on the entire market, including the crypto. »»
