“Cryptocurrencies have fallen in price: Dogecoin leads the losses among the largestMajor cryptocurrencies fell by 5% due to profit-taking. Dogecoin fell the most, Bitcoin is holding at $93,000.”, — write: unn.ua
DetailsBitcoin (BTC) has held in the $93,000 zone for the past 24 hours, but XRP, SOL Solana, BNB Chain and DOGE have shown losses of more than 2%. Ether (ETH) performed relatively better, falling by 1.5%.
Total market capitalization decreased by 2.5%. CoinDesk 20, a liquid index that tracks the largest tokens by market capitalization, fell by more than 3%.
Spot Bitcoin exchange-traded funds (ETFs) in the US attracted more than $916 million on Wednesday. Some traders point to the growing role of the asset as a safe haven as the catalyst behind this surge in flows.
“The inflow is driven by the decline in the US Dollar Index and the attractiveness of rising Bitcoin as a safe haven amid stock market volatility,” Vugar Usi Zade, Chief Operating Officer of Bitget, told CoinDesk in an email. – Massive ETF inflows reflect Bitcoin’s strengthening position as a leading crypto asset with growing institutional adoption.”
“Its reduced correlation with stocks and the safe haven narrative position it as a diversification tool, although short-term issues such as weak investment signals require sustained macro catalysts,” he pointed out.
The safe haven narrative around Bitcoin has been gaining momentum over the past week due to its relative resilience, mirroring the rise in gold prices, even as bond yields and US stocks have adjusted amid ongoing tariff wars.
Gold recovers in price after the biggest fall this year24.04.25, 09:14 • 1194 views
Earlier this week, US President Donald Trump said he had no intention of firing Federal Reserve Chairman Jerome Powell and that a deal with China (which faces tariffs of up to 245% on some items) would significantly cut some of his tariffs. However, ambiguous signals and frequent changes in tone tire traders, who continue to monitor comments for further signals about positioning, the publication writes.
“Macro risks persist, but one critical overhang appears to have been removed. Trump signals that he has no intention of replacing Fed Chairman Powell for now. The assurances sparked a modest decline in long-term bond yields, helping to mitigate a key tail risk,” Singapore’s QCP Capital said on Thursday.
“However, the broader outlook is not at all straightforward. Trade frictions, geopolitical turmoil and regulatory opacity continue to cast long shadows,” the firm added.