Bitcoin slides as Fed rate cut hopes diminish

The largest encrypted currency decreased by 2 % market value to $ 11,200 on Friday, or about 5.7 % lower than the record for more than $ 123,000 reached on July 14. The smaller symbols were worse, with XRP and Dogecoin decreased more than 5 %.

The withdrawal has been attentive that the so -called alternative digital currencies are preparing to excel the market in the market after operating it in the last records.

Nearly $ 400 million has been filtered in long positions in the past 24 hours – Bitcoin leads the discounts of $ 159 million, according to the data collected by the researcher Coinglass.

The decline in the Crypto market is a “healthy and necessary correction” from the previous high levels, according to Alex Copsikvich, the chief market analyst in FXPro. The total value of all encrypted currencies was topped for a short period of $ 4 trillion in July, according to COININECKO data.

Copsikvich said in a memorandum on Friday, that the decline to the $ 3.4 trillion brand would be seen as profit. He added: “As long as the market remains above this level, there is no use in talking about a change in the medium -time direction.”

The landmarks were also clear in the derivative market, as anonymous rackets paid about $ 5 million as a trusted on the Deribit Exchange to buy Bitcoin options that end on August 8 at the price of a $ 110,000 strike, according to Prime Breke Falconx, which facilitated trade.

“We expect to see more monotheism while Bitcoin remains less than the resistance of the monthly direction line, currently with about $ 125,000, which culminated in Bitcoin’s progress last week,” said Tony Sekammour, an IG Australia analyst.

However, most encryption monitors remain a long -term rise. Citigroup has written in this week note that they appreciate that Bitcoin may reach $ 135,000 by the end of the year.

“The broader upward trend is still intact, but the momentum has been cool and cautious merchants,” said Rachel Lucas, an encryption analyst in BTC.

– With the help of Suvashree Ghosh and Emily Nicolle

Updated, July 25, 2025: A new article for the public.

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