Bitcoin and Ethereum Struggle as Cryptocurrencies Reach Daily Low Points
Friday, 28 February 2025, 00:51
Bitcoin and Ethereum Face Bearish Trends
Bitcoin has lost 8.6% over the last day, dropping under $79,000, which reveals a troubling market sentiment among short-term buyers. If Bitcoin continues its decline toward the $70K area, it could nullify recent rallies. Meanwhile, Ethereum struggles below $2100, bringing back concerns with its death cross indicator.
Market Reactions and Predictions
- Recent reports show Bitcoin's decline is influenced by hedge funds closing positions.
- Softening implied volatility indicates speculators are losing optimism on short-term growth.
- Tether's USDT stablecoin is set to begin zero-fee transactions on the Tron blockchain.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.