Bitcoin Rises As Fed Governor Backs Three Rate Cuts In 2025; Ethereum, Dogecoin, XRP Correct: ETH May Have More Room To Run, Says Analyst

Benzinga
08/11

Bitcoin gained, but altcoins pulled back from Sunday amid Federal Reserve Governor’s dovish comments on rate cuts.

CryptocurrencyGains +/-Price (Recorded at 9:15 p.m. ET)
Bitcoin BTC/USD+2.19%$119,209.81
Ethereum ETH/USD
               
-0.64%$4,277.56
XRP DOGE/USD                         -0.85%$3.19
Solana XRP/USD                         -0.13%$181.83
Dogecoin SOL/USD                         -3.55%$0.2332
Trade Bitcoin, Ethereum, and More Instantly — No Wallets, No Hassle

Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500.

Disclosure: 82% of retail CFD accounts lose money

ETH’s Market Dominance Hits 8-Month High

The apex cryptocurrency ticked higher, alongside a 22% jump in trading volume over the last 24 hours.

Ethereum, which smashed past $4,300 during the weekend, corrected slightly, with trading activity contracting 25% in the 24-hour period.

ETH's market dominance sailed past 13% for the first time in eight months, while Bitcoin's market share dipped below 60%.

XRP slid 0.50%, although the third-largest cryptocurrency looked set to finish the week in the green.

Nearly $300 million was liquidated from the cryptocurrency market in the last 24 hours, with $166 million in bullish longs wiped out.

Bitcoin's open interest rose 1.36% in the last 24 hours. Meanwhile, ETH's open interest soared 26% in the last week, hitting new highs.

"Greed" sentiment strengthened in the last 24 hours, according to the Crypto Fear & Greed Index, suggesting significant buying pressure.

Top Gainers (24 Hours)

CryptocurrencyGains +/-Price (Recorded at 9:15 p.m. ET)
Ethena (ENA)    +9.22%$0.8317
Raydium (RAY)    
               
+8.95%$3.36
Lido DAO (LDO)          +7.39%$1.46

The global cryptocurrency market capitalization stood at $3.98 trillion, growing by 1.19% in the last 24 hours.

Stocks Futures Rise As Fed Governor Backs Monetary Easing

Stock futures edged higher overnight Sunday. The Dow Jones Industrial Average Futures rose 91 points, or 0.20%, as of 8:43 p.m. EDT.  Futures tied to the S&P 500 gained 0.14%, while Nasdaq 100 Futures added 0.07%.

Fed Governor Michelle Bowman, who dissented from the Committee’s decision to hold the policy rates steady last week, advocated for three rate cuts in 2025, owing to labor market weakness.

This week, investors will be watching for key inflation figures, including the consumer price index on Tuesday and the producer price index on Thursday, which might influence the Fed's monetary policy.

Analyst Expects ‘Wild Week’ Ahead

Widely followed cryptocurrency analyst and trader Ali Martinez noted that despite recent highs, Ethereum may have "more room to run," according to the MVRV Ratio.

MVRV, a shorthand for Market Value to Realized Value, is a ratio used to assess the value of a cryptocurrency by comparing its current market value to its realized value. It suggests whether a cryptocurrency is undervalued or overvalued at a given time.

Michaël van de Poppe, another active cryptocurrency commentator, predicted a "wild week" for the market.

"I assume we’ll see BTC at $120,000, and then have a correction in which we’ll see a sharp drop on altcoins," the analyst said. "Ethereum showed much strength, and I think it will stall."

Photo Courtesy: Yalcin Sonat On Shutterstock.com

Loading...
Loading...

Read Next:    

  • Tornado Cash Co-Founder Roman Storm Convicted—And Now?
BTCGrayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest
$51.75-0.63%

Stock Score Locked: Edge Members Only

Benzinga Rankings give you vital metrics on any stock – anytime.

Unlock Rankings
Edge Rankings
Momentum
92.35
Price Trend
Short
Medium
Long
Overview
$BTCBitcoin - United States dollar
$120627.101.10%
$DOGEDogecoin - United States dollar
$0.23731.47%
$ETHEthereum - United States dollar
$4327.541.79%
$SOLSolana - United States dollar
$184.330.89%
$XRPRipple - United States dollar
$3.241.70%
Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10