Bitcoin Tumbles Amid ETF Outflows; Ethereum, Dogecoin, Solana Crash: Analytics Firm Says ETH Can Make It To $5,000
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Leading cryptocurrencies, including Bitcoin and Ethereum, experienced significant declines due to rising institutional outflows, with Bitcoin falling below $109,000 and Ethereum dropping to the early $4,300s. The total liquidations in the crypto market exceeded $928 million in 24 hours. Despite the downturn, on-chain analytics firm Santiment noted that Ethereum could potentially reach $5,000 due to increased demand from Binance whales. The overall cryptocurrency market capitalization decreased by 4.08%, while major stock indices also fell following Federal Reserve Chair Jerome Powell's dovish remarks.
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