logo
ENFRع
Bitcoin Retreats From Record After Markets Get Volatility Jolt

Bitcoin Retreats From Record After Markets Get Volatility Jolt

Bloomberg19 hours ago
A stronger-than-anticipated inflation reading reminded investors that Bitcoin remains a highly volatile asset just hours after the digital currency soared to another record high. The original cryptocurrency fell as much as 4.3% in the minutes after a government report showed US wholesale inflation accelerated in July by the most in three years. That sent stocks lower and tempered expectations for a reduction in interest rates, sending Bitcoin down from a high of $124,515 set late Wednesday in New York. The previous record was reached in July. Bloomberg's Mike McGlone reports. (Source: Bloomberg)

Hashtags

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Bitcoin, Ethereum, XRP, Dogecoin Extend Pullback But Traders Call It 'Just A Breather'
Bitcoin, Ethereum, XRP, Dogecoin Extend Pullback But Traders Call It 'Just A Breather'

Yahoo

time12 minutes ago

  • Yahoo

Bitcoin, Ethereum, XRP, Dogecoin Extend Pullback But Traders Call It 'Just A Breather'

Cryptocurrency markets are trading lower early Friday morning, extending their downtrend after inflation data released on Ticker Price Bitcoin (CRYPTO: BTC) $118,996.80 Ethereum (CRYPTO: ETH) $4,641.03 Solana (CRYPTO: SOL) $194.91 XRP (CRYPTO: XRP) $3.10 Dogecoin (CRYPTO: DOGE) $0.2308 Shiba Inu (CRYPTO: SHIB) $0.00001299 Notable Statistics: IntoTheBlock data shows Bitcoin and Ethereum large transaction decreased by 6% and grew 1.9%, respectively in a single day. Daily active addresses grew 9.4% and dropped 1.5%, respectively. Coinglass data shows 195,979 traders were liquidated in the past 24 hours for $ $941.23 million. SoSoValue data shows net inflows of $230.9 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net inflows of $639.6 million. Trader Notes: Crypto trader CW pointed to a large Bitcoin buy wall near $117,000, which he expects to act as strong Hardy described the current pullback as "just taking a breather" after BTC's new high, noting it remains within range. On the other hand, Jelle observed a rebound after a partial CME gap fill, saying a move back above $120,000 could shift attention away from PPI data and lift prices higher, until then, altcoins are likely to lead. For Ethereum, Daan Crypto Trades highlighted its proximity to the 2021 ATH after breaking out of the $2,800–$4,000 range last week. Levels above $4,000–$4,100 are considered bullish as long as the broader uptrend holds. Dark Defender said XRP's ABC correction is nearly complete, with upside targets at $3.33, $4.36, $5.85, and $10.47, while support lies at $3.00, $2.85, and $2.64. Crypto chart analyst Ali Martinez forecast a final "buy-the-dip" opportunity before aiming for $ noted Dogecoin's consolidation phase could precede a strong breakout, expecting it to be among the first major coins to see retail-driven surges. Read Next:Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Bitcoin, Ethereum, XRP, Dogecoin Extend Pullback But Traders Call It 'Just A Breather' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store