Bitcoin (BTC) and other major tokens lost more than 3% to earn profits in Thursday's rally on Asian morning hours on Friday, losing more than 3% to earn profits in line with expectations.
Over the past 24 hours, Crypto's overall market capitalization has dropped by 3.2%, with BTC sliding from $86,000 to under $84,000, with Ether (ETH) below $2,000 and Solana's Sol falling 5%.
XRP steadily declined with a 10% spike on Wednesday, up 4.8% per week, with BNB chain BNB continuing to rise, bringing weekly profits to over 8%.
At the time of pressing, Tron's TRX and TON were the only major tokens in Green, each up 2%.
TRX first floated in Solana at the end of Thursday, trying to expand its user base. Tonn saw retail demand after the Toncoin Foundation said the venture capital firm had more than $400 million in assets after new investments.
Wednesday's Federal Open Market Committee (FOMC) meeting was waiting to push BTC to above $85,000 as interest rate cuts were announced.
However, the Fed said it would reduce its “quantitative tightening” program, which will begin in April. The options market is beginning to occupy a corresponding position.
“The likelihood that BTC could exceed $10,000 by June 30 has increased from 20% to nearly 30% in the last 24 hours.
“The chance of an ETH above $2,000 by June 30 is a coin flip, but it was 40% 24 hours ago. Almost 60% of ETH options traded in the last 24 hours were called out. It showed bullish sentiment.
FXPro's Alex Kuptsikevich has maintained a careful tone as he aims to reach a support level of $80,000 as an important area for watching support breaks.
“It is important to note that the crypto market is currently still above its 200-day moving average and is currently sitting near $2.9 trillion. A strong gathering above this level can cause an active purchasing phase, but there is also the risk of setting traps as the bears did a few times before.
“It's important for Bitcoin to stay strong, exceeding this key level. If so, it could spark new interest in purchasing a variety of coins that will be in the correction stage for a while.”
