Leading cryptocurrencies traded flat Thursday amid President Donald Trump's announcement of "reciprocal tariffs" and yet another hotter inflation data.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin BTC/USD | -0.93% | $96,702.26 |
| Ethereum ETH/USD | -1.78% | $2,672.73 |
| Dogecoin DOGE/USD | +0.60% | $0.2649 |
What Happened: Bitcoin hit an intraday low of $95,269.71, following Wednesday's move above $98,000, as the apex cryptocurrency's wait to reclaim $100,000 gets longer.
Ethereum fell to a low of $2,615.67 in the afternoon before gradually reaching the upper reaches of $2,600 in the evening.
Cryptocurrency liquidations rose above $175 million in the last 24 hours, with $120 million in upside bets erased.
That said, if Bitcoin reclaims the $100,000 level, nearly $530 million in short positions will be wiped out.
Bitcoin's Open Interest fell by 1.33% in the last 24 hours, while long exposure remained lower than short exposure, according to the Long/Short Ratio.
Market sentiment remained in the "Neutral" zone, according to the Crypto Fear & Greed Index, signaling a state of balance between bulls and bears.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Kaspa (KAS) | +4.58% | $0.1015 |
| XRP (XRP) | +4.15% | $2.56 |
| Official Trump (TRUMP) | +3.74% | $15.92 |
The global cryptocurrency market capitalization stood at $3.2 trillion, contracting 0.91% in the last 24 hours.
Stocks rebounded strongly on Thursday. The Dow Jones Industrial Average jumped 342.87 points, or 0.77%, to close at 44,711.43. The S&P 500 lifted 1.04% to 6,115.07, while the tech-heavy Nasdaq Composite gained 1.50%, ending at 19,945.64
Investors digested Trump's announcement of "reciprocal tariffs," aiming to mirror duties imposed by other nations on U.S. exports. The move was largely anticipated given Trump’s hints the previous week.
Meanwhile, the producer price index report came in hotter-than-expected, following a similarly stronger-than-expected Consumer Price Index report a day before.
See More: Best Cryptocurrency Scanners
Analyst Notes: Popular cryptocurrency analyst and trader Ali Martinez projected Ethereum's "potential breakout" to $3,200 or $4,000 if the second-largest cryptocurrency holds steady above $2,600.
Meanwhile, widely followed cryptocurrency investor Daan Crypto Trades sounded pessimistic owing to Bitcoin's rangebound action.
"Messy range with a lot of undecisiveness," the trader said. "No clear trend, currently in no man’s land. No need to waste your energy trading this."
Photo by CMP_NZ on Shutterstock
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