Dogecoin Drops 3% While Bitcoin Holds Steady at $85,000
In the past 24 hours, Dogecoin decreased by 3%, while Bitcoin and Ethereum remained stable. Concerns about U.S. tariffs lessened, but fears of a recession grew, with betting markets estimating a 40% to 60% chance of one occurring in 2025.
- Augustine Fan from SignalPlus noted that sentiment often influences market reality.
- Crypto has benefitted from increased volatility in equities; Bitcoin is regaining its 'store of value' narrative.
- The CoinDesk 20 index saw a nearly 2% decline, with Dogecoin leading losses.
- Solana, Tron, and Cardano lost up to 2.5%; Bitcoin remains near $85,000.
- Mantra's OM token surged 20% after a dramatic sell-off that saw it lose 90% in an hour, with a recovery plan underway.
- Story Protocol’s IP dropped 20% before rebounding over 30%, raising fears of similar sell-offs.
- VeThor’s VTHO increased by 37% after UFC CEO Dana White joined as a strategic advisor.
- QCP Capital indicated that BTC risk reversals are skewed towards puts until June, suggesting market caution.
- A significant interest in $100,000 Bitcoin call options emerged, with nearly $1.2 billion in open interest.
- Market sentiment may improve as the Federal Reserve assures intervention to stabilize markets amid tariff negotiations.