Bitcoin fell back this Wednesday night, losing about 1.5% to slide down to $110,900 as Trump’s team kept talking tough about China. Ethereum got smacked even harder, dropping over 2% to $3,995 after briefly going under $4,000 before bouncing off support around $3,900.
The rest of the major coins had a rough night too. XRP tanked 3.4% to $2.41, Solana got crushed 4.15% down to $194, and Dogecoin fell 3.4% to barely stay above 19 cents. The entire crypto market shed over 2% to sit at $3.75 trillion as everyone stayed scared.
Bitcoin ETFs dumped over $90 million on Tuesday as institutional money kept heading for the exits. Liquidations totaled $442 million in just 24 hours, with almost $400 million coming from long positions getting wiped out. Trading volume dried up as Bitcoin just drifted around $111,000 without much conviction either way.
Stocks actually had a decent day, though, with the S&P 500 up 0.4% and Nasdaq gaining 0.7%. That happened even though Treasury Secretary Scott Bessent said the recent market carnage won’t stop them from taking “strong measures” against China. Meanwhile, gold kept ripping higher, blowing past $4,200 per ounce.
A crypto analyst pointed out that Ethereum needs to hold $3,900, or things could get ugly. If it does hold, his model says it could run to $5,000 or even $6,000.
Conclusion
Bitcoin dropped 1.5% to $110,900 Wednesday as the Trump administration maintained an aggressive China stance, while Ethereum tested the crucial $3,900 support level amid ongoing market fear.
Also Read: Ethereum ETF Sees Outflow
