Bitcoin Slips Below $65,000, XRP Nears $1 as Ether Leads Crypto Losses
Bitcoin was stuck below $65,000 and slipping toward $64,000 as traders awaited Wednesday’s US inflation report, according to CoinDesk and The Block. Analysts are split on whether the stall breaks higher or reverses, The Block reported.
XRP was close to dropping below $1 and ether was among the session’s biggest decliners, according to CoinDesk. CoinDesk attributed the weakness to the Strait of Hormuz stalemate and Strategy’s selling squeezing the market. Despite the pullback, traders are eyeing $70,000 bitcoin next, CoinDesk reported.
The slide comes after ether-linked products led a rebound in crypto exchange-traded product flows in July, pulling in $600 million even as bitcoin products still accounted for 78.5% of the $133.3 billion traded across global crypto ETPs that month, according to The Defiant.
Sources: The Defiant, CoinDesk, The Block
This article is for information only and is not financial advice.
What the market did
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Story so far 2 updates
- digestEther Products Lead $600M Inflow as Crypto ETPs Rebound in Julyupdate
- storyBitcoin Slips Below $65,000, XRP Nears $1 as Ether Leads Crypto Lossesupdate
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