Profit-Taking Pressures Crypto Market as Dogecoin and Cardano Decline
Profit-taking has impacted crypto markets, with major declines in Dogecoin and Cardano. Bitcoin remains stable over the past 24 hours.
- XRP, Solana, and BNB each fell by 1.5%
- Tron was the only major token to increase, rising by 1.9%
- Uncertainty in risk-on assets affects Bitcoin's price
- Institutional inflows into BTC and ETH ETFs continue despite short-term challenges
- Crypto fear and greed index is at 62, indicating greed but a slight decline
- Potential for Bitcoin to rise above $130K from current levels
- Ether struggles with resistance around its 200-day moving average; a break above $2,700 could signal optimism
- Bitcoin may correct to $96,700 according to CryptoQuant analysis