Crypto wrap: Bitcoin dips to $115k, Ethena leads altcoins as ETH, XRP hold gains
Main Idea
Bitcoin's price dropped to $115k due to a whale sell-off, while altcoins like Ethena surged, and major altcoins such as ETH, XRP, and BNB held key support levels.
Key Points
1. Bitcoin fell 2.9% to $115,150, driven by Galaxy Digital selling 30k BTC, triggering market liquidations.
2. Ethena (ENA) surged 20% to $0.58, leading altcoin gainers amid bullish predictions and whale activity.
3. Ethereum (ETH) held above $3,500, XRP defended $3.00, and Binance Coin (BNB) maintained a bullish trend near $775.
4. Some altcoins like Pump.fun’s PUMP dropped over 17%, while others like Raydium and Fartcoin pared gains.
5. Bitwise CIO Matt Hougan suggested the four-year crypto cycle may be weakening due to reduced halving impact and ETF growth.
Description
Bitcoin topped crypto headlines on Friday as a major whale dump sent prices plummeting to below $115,000, while upbeat sentiment helped Ethena lead altcoins with a 20% surge. Meanwhile, major altcoins like Ethereum (ETH), Ripple (XRP), and Binance Coin (BNB) maintained hold of key levels. This saw the cryptocurrency ecosystem remain a nearly $4 trillion market, with the global market capitalization at $3.8 trillion at the time of writing. Meanwhile, increased activity saw daily volume jump 3% to...
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