Leading cryptocurrencies fell on Wednesday even as a federal court blocked President Donald Trump’s sweeping tariffs.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. ET) |
| Bitcoin BTC/USD | -0.91% | $107,931.14 |
| Ethereum ETH/USD |
+2.43% | $2,707.97 |
| Dogecoin DOGE/USD | -1.12% | $0.2240 |
What Happened: Bitcoin dipped sharply in the early trading hours, falling below $107,000 before regaining $108,000 overnight.
Ethereum erupted above $2,700 late in the day, extending its 24-hour gains to 2.43%.
The overnight surge came after a federal court struck down global tariffs imposed by Trump under the Emergency Powers Act. The decision, delivered by the U.S. Court of International Trade, could put an end to trade war fears gripping the capital asset markets.
Over $232 million was liquidated from the cryptocurrency market in the last 24 hours, with bullish long bets accounting for $165 million.
Bitcoin’s Open Interest rose 1.28% in the last 24 hours, while Ethereum recorded a 4.46% jump. The percentage of Binance traders placing bullish bets on Bitcoin jumped above 50%, suggesting increased optimism.
The “Greed” sentiment rose from 71 to 74 over the last 24 hours, as indicated by the Crypto Fear and Greed Index, implying increasing demand.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. ET) |
| Virtuals Protocol (VIRTUAL) | +16.25% | $1.07 |
| Uniswap (UNI) | +13.87% | $7.15 |
| Toncoin (TON) | +12.22% | $3.38 |
The global cryptocurrency market capitalization stood at $3.43 trillion, following a dip of 0.38% in the last 24 hours.
Disclosure: 82% of retail CFD accounts lose money
Stock futures ripped overnight Wednesday. The Dow Jones Industrial Average Futures soared 450 points, or 1.07%, as of 9:26 p.m. EDT. Futures tied to the S&P 500 jumped 1.43%, while Nasdaq 100 Futures gained 1.80%.
See More: Best Cryptocurrency Scanners
Analyst Notes: Cryptocurrency analyst and trader Ali Martinez observed that Bitcoin has reached the lower limit of its current channel, which had previously served as support.
He also spotted a “buy” signal from the TD Sequential indicator on BTC’s hourly chart.
The TD Sequential indicator is a technical analysis tool that helps traders identify potential price reversals and exhaustion patterns.
Another widely followed cryptocurrency investor, known by the pseudonym Scient, predicted BTC to hit a new all-time high “in a couple of days,” provided it could hold above $107,974—the upper boundary of a “box” that they highlighted.
“If we fall under the box, $102,000 is a good support for scalp longs, but it will invite a lot of sell pressure when we test $108,000 from underside,” they said.
Photo Courtesy: Antonio Gravante On Shutterstock.com
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