Bitcoin and Dogecoin Rise While Ethereum, XRP Trade Sideways
Bitcoin rallied alongside the S&P 500 on Wednesday, despite the Federal Reserve's minutes revealing tariff-induced inflation concerns.
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Bitcoin and stock markets demonstrated positive momentum on Wednesday, even as Federal Reserve meeting minutes highlighted inflation concerns. Bitcoin bounced back from Tuesday's decline, reaching intraday peaks of $124,167.09 before settling around $122,000, maintaining market dominance above 58%.
Cryptocurrency liquidations totaled $325 million over 24 hours, with open interest falling 1.31%, indicating short traders were closing positions. The global crypto market cap rose slightly to $4.20 trillion, with notable gainers including ChainOperaAI (79.90%) and Zcash (37.83%). Stock markets performed well, with the S&P 500 gaining 0.58% and Nasdaq climbing 1.12%.
The Fed's September minutes revealed tariff-related inflation concerns, projecting inflation won't reach the 2% target until 2027. Analysts remain divided on Bitcoin's trajectory, while Ethereum traded sideways around $4,500.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/10/48116303/bitcoin-dogecoin-gain-while-ethereum-xrp-move-sideways-analyst-says-btcs-top-still-not-on-t