Bitcoin, Ethereum, Dogecoin Witness Pullback After Strong Rally: Analyst Says Stablecoin Growth Key To Bitcoin Hitting New All-Time Highs
Bitcoin (BTC) Breaks Below $40K The world's largest cryptocurrency, Bitcoin (BTC), broke below the key support level of $40,000 on Thursday, falling as low as $38,000 before recovering slightly. This decline came after a period of consolidation above $40,000, and many analysts believe it was a healthy correction after the recent rally from $30,000 to $42,000. However, some traders are still cautious, as the technical indicators show a potential for further downside. Ethereum (ETH) Dips Below $2,800 The second-largest cryptocurrency, Ethereum (ETH), also saw a dip in price, falling below the $2,800 level on Thursday. This drop came after a strong rally from $2,000 to $3,000 in just a few weeks, and it could be viewed as a natural pullback. However, some investors are concerned about the upcoming Ethereum upgrade, which could potentially disrupt the network and lead to increased volatility. Altcoins Follow Suit Along with Bitcoin and Ethereum, altcoins also saw a correction...