Bitcoin Consolidates As US GDP Rebounds; Ethereum, XRP, Dogecoin Decline Despite Strong Economic Data
Bitcoin consolidated on Thursday while major altcoins fell, despite the US economy posting stronger-than-expected second quarter results.
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Bitcoin and major cryptocurrencies experienced mixed performance on Thursday, with the market showing slight fluctuations. Bitcoin remained relatively stable while Ethereum dropped below $4,500, losing over 10% from its recent record high. XRP and Dogecoin also traded lower.
The global cryptocurrency market capitalization reached $3.86 trillion, up 0.08% in 24 hours. Over $250 million was liquidated from the market, with Bitcoin's dominance decreasing to 57.5% and Ethereum's increasing to 13.9%. Notable developments included the US government putting GDP numbers on blockchain for the first time.
The US stock market performed well, supported by GDP growth of 3.3% in Q2, exceeding initial estimates and representing the strongest quarterly expansion since Q3 2023.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/08/47404114/bitcoin-flat-as-us-gdp-rebounds-in-q2-ethereum-xrp-dogecoin-slide-analyst-says-keep-an-eye-