<div id="readability-page-1"><div>Leading cryptocurrencies traded flat on Wednesday as Federal Reserve Chair Jerome Powell’s positive comments regarding the industry.<figure><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Bitcoin BTC/USD</td><td>0.88%</td><td>$84,097.68</td></tr><tr><td>Ethereum ETH/USD </td><td>-0.11%</td><td>$1,584.40</td></tr><tr><td>Dogecoin DOGE/USD </td><td>+0.70%</td><td>$0.1548</td></tr></tbody></table></figure>What Happened: Bitcoin reached a high of $85,428.28 in the afternoon but reversed sharply to $83,000, as trading volume dipped 1.28% in the last 24 hours.Ethereum also had a choppy session, bouncing around $1,500, with the exception of a brief jump above $1,600.Bitcoin’s market dominance increased to 63.1%, while Ethereum’s share fell to 7.2%.Over $278 million was liquidated from the market in the last 24 hours, with bullish bets accounting for $160 million.Bitcoin’s Open Interest dropped 0.13% in the last 24 hours, while the Long/Short Ratio on Binance indicated a higher percentage of traders positioned bullish on the apex cryptocurrency.The market mood remained one of &#34;Fear,&#34; according to the Crypto Fear and Greed Index.Top Gainers (24-Hours)<figure><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 8:30 p.m. ET)</td></tr><tr><td>Core (CORE)</td><td>15.67%</td><td>$0.609</td></tr><tr><td>Fartcoin (FARTCOIN)</td><td>11.80%</td><td>$0.9025</td></tr><tr><td>Raydium (RAY)</td><td>11.54%</td><td>$2.29</td></tr></tbody></table></figure>The global cryptocurrency market capitalization stood at $2.65 trillion, following a marginal increase of 0.41% in the last 24 hours.Stocks sold off sharply on Wednesday. The Dow Jones Industrial Average plunged 699.57 points, or 1.73%, to close at 39,669.39. The S&amp;P 500 lost 2.24%, ending at 5,275.70, while the tech-focused Nasdaq Composite retreated 3.07% to close at 16,307.16.The market shuddered after Fed Chair Powell hinted at the growing risk of higher inflation and slower growth due to President Donald Trump's tariffs.The probability of interest rates remaining unchanged at next month’s central bank meeting rose to 83.1% from 81.4% the day before, according to the CME FedWatch tool.In another development, Powell said that the U.S. was preparing to relax certain cryptocurrency and banking rules and that the industry has matured and become more mainstream.See More: Best Cryptocurrency ScannersAnalyst Notes: Popular on-chain analytics firm CryptoQuant noted that the pace of Bitcoin accumulation has reached a two-month low, while outflows have increased.&#34;Whale holdings fell by 30,000 BTC this week. Miner outflows hit 15,000 BTC on April 7 as margins sank to 33%. Accumulation is now at its lowest pace since February,&#34; CryptoQuant added.<figure><div><blockquote><div lang="en" dir="ltr">Whale holdings fell by 30K BTC this week.Miner outflows hit 15K BTC on April 7 as margins sank to 33%.Accumulation is now at its lowest pace since February. pic.twitter.com/3CcbzfO5x4</div>— CryptoQuant.com (@cryptoquant_com) April 16, 2025</blockquote></div></figure>Amid Ethereum's stagnation, influential cryptocurrency analyst Ali Martinez identified levels of interest to watch for.&#34;$1,528.50 is a key support level for Ethereum, where 2.61 million addresses accumulated over 4.82 million $ETH,&#34; Martinez stated.<figure><div><blockquote>$1,528.50 is a key support level for #Ethereum, where 2.61 million addresses accumulated over 4.82 million $ETH, as shown by on-chain data from @intotheblock. pic.twitter.com/HRnfADqqcR— Ali (@ali_charts) April 16, 2025</blockquote></div></figure>Photo Courtesy: Paopano On Shutterstock.comRead Next:<ul><li>Bitcoin Miners Buckle Under April Price Pressure, But JP Morgan Analyst Says MARA, CleanSpark Held Strong</li></ul> </div></div>

ETHE

Leading cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, remained steady amid a stock market downturn, following positive comments from Fed Chair Jerome Powell about potential relaxation of crypto regulations. Bitcoin traded at $84,097.68, while Ethereum was at $1,584.40. The global crypto market cap rose to $2.65 trillion. Analyst Ali Martinez identified $1,528.50 as a key support level for Ethereum, with significant accumulation noted. The market mood is currently one of 'Fear', as over $278 million was liquidated in the last 24 hours.

- Leading cryptocurrencies experienced minimal movement on Wednesday, influenced by positive remarks from Federal Reserve Chair Jerome Powell regarding the industry.  
- Bitcoin's price fluctuated, reaching a high of $85,428.28 before dropping to $83,000, while Ethereum remained around $1,500, with a slight increase in Bitcoin's market dominance to 63.1%.  
- The global cryptocurrency market capitalization rose to $2.65 trillion, despite a significant sell-off in stocks, as Powell indicated potential regulatory relaxations for the cryptocurrency sector.

Benzinga

Grayscale Ethereum Trust ETF

Bitcoin, Ethereum, Dogecoin Steady Amid Stock Meltdown As Fed Chair Jerome Powell Signals Crypto Rules Relaxation: Popular Analyst Identifies Key Support Level For ETH