Leading cryptocurrencies traded flat, while stocks extended their gains on Thursday as Israel says it’s “holding off” future strikes against Iran’s critical energy sites.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:25 p.m. ET) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.84% | $70,370.30 |
| Ethereum (CRYPTO: ETH) | -1.80% | $2,189.10 |
| XRP (CRYPTO: XRP) | -0.39% | $1.45 |
| Solana (CRYPTO: SOL) | -0.65% | $89.47 |
| Dogecoin (CRYPTO: DOGE) | -0.78% | $0.09423 |
Bitcoin Consolidates After Correction
After a steep drop yesterday, Bitcoin stabilized in the $70,000 range, with trading volume staying low. Ethereum also settled around the $2,100 zone after pulling back from $2,300.
Bitcoin's dominance stood at just over 58%, while Ethereum accounted for 10.7% of cryptocurrency market total capitalization.
Shares of Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closed down 1.67% and 1.26%, respectively.
Over $400 million was liquidated from the cryptocurrency market over the past 24 hours, predominantly long positions, according to Coinglass data.
Open interest in Bitcoin futures fell 0.36% in the last 24 hours, roughly mirroring the drop in spot price.. Meanwhile, Binance’s derivatives traders, including retail and whale, remained bullish on the leading cryptocurrency.
"Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:25 p.m. ET) |
| UnifAI Network (UAI) | +46.98% | $0.5999 |
| Zano (ZANO) | +19.77% | $8.67 |
| Kite (KITE) | +13.72% | $0.2133 |
The global cryptocurrency market capitalization stood at $2.44 trillion, following a decline of 3.60% over the last 24 hours.
Stocks Rally After Fed Rate Cut But…
Stocks extended their losses on Thursday. The Dow Jones Industrial Average slid 203.72 points, or 0.44%, to end at 46,021.43. The S&P 500 dipped 0.27% to close at 6,606.49, while the tech-heavy Nasdaq Composite fell 0.28% to end at 22,090.69.
Oil prices eased, with West Texas Intermediate Crude Futures down 1.56% at $94 a barrel after briefly surging above $100 earlier. Israel PM Benjamin Netanyahu announced a pause in strikes against Iran’s energy facilities, a move that drew Iranian counterstrikes on major Gulf refineries a day earlier.
"President Trump asked us to hold off on future attacks, and we’re holding off," Netanyahu said.
Earlier, Iranian Foreign Minister Seyed Abbas Araghchi said that they showed restraint after a request for “de-escalation.”
“ZERO restraint if our infrastructures are struck again. Any end to this war must address damage to our civilian sites,” Araghchi said.
Meanwhile, spot gold consolidated around $4,650 an ounce, while spot silver gained 0.31% to $73.03 an ounce.
Launchpad For BTC’s Bull Cycle?
Leading cryptocurrency analyst and trader Ali Martinez said Bitcoin is approaching this trendline between $60,000 and $56,000, its "most significant" support since 2017.
Martinez said the support guarded Bitcoin's price for nine years and each retest triggered "parabolic rallies."
"If this floor holds, we aren’t just looking at a bounce. Indeed, we are looking at the potential launchpad for the next major bull cycle," the analyst added.
On-chain analytics firm CryptoQuant highlighted that over 75% of Ethereum exposure on Binance is leveraged, indicating much of recent price gains stem from derivatives trading rather than spot buying.
"That typically supports continuation in the short term, but also raises the probability of volatility spikes and forced deleveraging.
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