Cryptocurrencies Price Prediction: Bitcoin, Solana & Cryptos - American Wrap 17 April
Crypto Today: Trump criticizes Powell, SOL and ADA lead DeFi gains as Bitcoin price nears $85K
The cryptocurrency sector valuation is hovering around the $2.7 trillion mark on Thursday. While Bitcoin price clings to the $85,000 level, DeFi protocols and layer-1 altcoins appear to be attracting the most traction on the day.
Bitcoin Price Forecast: BTC holds $84,000 despite Fed’s hawkish remarks and spot ETFs outflows
Bitcoin (BTC) is stabilizing around $84,000 at the time of writing on Thursday after facing multiple rejections around the 200-day Exponential Moving Average (EMA) at $85,000 since Saturday. Despite risk-off sentiment due to the hawkish remarks by the US Federal Reserve (Fed) on Wednesday, BTC remains relatively stable. Meanwhile, institutional demand shows weakness, as it recorded nearly $170 million outflow from Bitcoin spot Exchange Traded Funds (ETFs) on Wednesday.
Crypto market cap fell more than 18% in Q1, wiping out $633.5 billion after Trump’s inauguration top
CoinGecko’s Q1 Crypto Industry Report highlights that the total crypto market capitalization fell by 18.6% in the first quarter, wiping out $633.5 billion after topping on January 18, just a couple of days ahead of US President Donald Trump’s inauguration. This decline was accompanied by a drop in investor activity, with average daily trading volumes plunging 27.3% quarter-on-quarter. In the same period, Bitcoin (BTC) fell by 11.8%, but its dominance increased, and it was outperformed by Gold and US Treasuries.
Author
FXStreet Team
FXStreet
