BTC Retests $85k, ETH Consolidates Above $2.7k
The crypto landscape today is a bit of a mess. Established coins like Bitcoin (BTC) and Ethereum (ETH) are down and don’t seem to be able to stem the losses.
In the last 24 hours, dropped to $83,540 before changing course and breaching the $84,000 level, and then finally retesting the $85,000 level, where it is trading at the moment. It is, however, still down by 11% on the weekly charts.
For the most part, it seems like a weak job market, coupled with the dovish comments by New York Fed President John Williams, has encouraged buying at lower levels.
Meanwhile, the Fed rate cut probability has jumped to more than 70% as opposed to nearly 40% just a few days ago, prompting traders to rotate into riskier assets such as…
