Major coins traded in the red on Thursday, as the global market cap went down 1.75% reaching $1.04 trillion, recorded at 8:30 p.m. EST. Cryptocurrency Gains (+/-) Price Bitcoin -2.34% $22,681 Ethereum -3.46% $1,567 Dogecoin -1.69% $0.085
What Happened: The largest cryptocurrency by market value,Bitcoin BTC/USD , fell over 2% to under $23,000. Ethereum ETH/USD was changing hands at $1,567, down 3.4%.Dogecoin DOGE/USD was down 1.69% in the last 24 hours, trading at $0.085.
U.S. equities soared, as investors digested the most recentGDP report and its positive implications for the economy. The tech-heavy Nasdaq Composite rose 1.7%, the S&P 500 gained 1.1%, and the Dow Jones Industrial Averagewas up 0.6%.
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The FTX creditor list, containing 116 pages of information, reveals the far-reaching implications of FTX's bankruptcy. Companies such as Netflix and Apple AAPL are amongthose listed as creditors. This comprehensive document further shows that FTX's debt reaches universities, airlines, charities and media organizations, as revealed in the newest court filing.
Bitcoin pared losses as soft-landing hopes returned following better-than-expected U.S. GDP data. ?Bitcoin still looks poised to consolidate here until next weeks FOMC decision. One notable crypto story was a fine given to Coinbase by the Dutch Central Bank. The central banks penalty is for offering crypto products prior to their registration. ? This $3.6 million fine is a slap on the wrist but another reminder that a global crackdown on crypto continues, saidEdward Moya, a senior market analyst at OANDA, in a note seen by Benzinga.
Crypto analyst Michal van de Poppe said"well all be laughing" at current BTC and ETH prices in just a few short years. In the shorter term, he is keeping a close watch on the $1,450-$1,600 range for Ethereum,
As for BTC, the analyst says hes not interested in longs at Bitcoins current price levels.
Fun thing is, in a few years from now we’ll be laughing at the current valuations.#Bitcoin at $200K or more, #Ethereum being adopted everywhere.
We’re on the start of such a massive cycle. Michal van de Poppe (@CryptoMichNL) January 26, 2023
Poppe said that altcoinsFantom FTM/USD and Polygon MATIC/USD are currently blasting off. FTM and MATIC going through the roof.
Crypto analyst Justin Bennett said that Bitcoin is currently sitting at its all-time high trend line.
$BTC is still hanging out at its ATH trend line.
No confirmed break yet.#Bitcoin pic.twitter.com/DmTCEv5sGr Justin Bennett (@JustinBennettFX) January 26, 2023
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