BTC/USD: Bitcoin Eases Hulking Updraft as Prices Slide to $97,000. What’s Next for Crypto?
Tokens are getting a break from the weekslong pump with popular names losing anywhere between 5% to 20% from their recent highs. Bitcoin prices eased up their offensive over the past two days and retreated well below the record high. From pumping to the to current market prices of $97,000, the orange token has given up about 6% of its valuation. More interestingly, crypto bros still haven’t seen a close above the six-digit figure as the record high was a session high, not a closing high. The pullback could most likely be attributed to a healthy profit-taking activity and a needed reprieve after Bitcoin’s powerful post-election swing. Fundamentally, things are better than ever — President-elect Donald Trump is going the extra mile to assemble a team of A-list entrepreneurs, investors, and venture capitalists who will be tasked with expanding, strengthening and supporting the crypto industry. In other corners of the market, Ethereum prices dipped under $3,500 from their recent highs of $4,100 per coin. Solana has also taken a deep dive from its to current market prices of $220. And Ripple’s XRP has shed roughly 18% from its recent peak of $2.80 to $2.30. XRP is one of the biggest gainers in this rally as traders anticipate the launch of the first exchange-traded funds to hold the actual coin under the new SEC boss Paul Atkins.