比特币在特朗普潜在的美联储多数席位中复苏;以太坊、狗狗币、XRP也上涨;分析师预计ETH将在此范围内整合

Leading cryptocurrencies rebounded Tuesday amid increased expectations of a rate cut following Federal Reserve Governor Lisa Cook’s removal and President Donald Trump getting a potential majority on the central bank’s board.

Cryptos Stage A Comeback

Bitcoin made a sharp recovery past $112,000 late evening, recouping some of Monday’s losses. Ethereum also reclaimed $4,600, easing around $4,550 as of this writing.

Bitcoin's market share fell further to 57.5%, while Ethereum's dominance rose to 14.3%, its highest since early November of last year.

About $280 million was liquidated from the cryptocurrency market in the last 24 hours, with nearly equal amounts of longs and shorts wiped out.

However, a tumble to $180,000 could erode more than $620 million in Bitcoin long positions. 

Bitcoin's open interest dipped 0.20% over the last 24 hours. Typically, a drop in open interest, coming alongside a price rise, is associated with short covering i.e., when short positions traders close their positions.

Top Gainers (24 Hours)

The global cryptocurrency market capitalization stood at $3.86 trillion, increasing by 2.64% in the last 24 hours.

Fed Rate Cut Hopes Spike After Cook’s Ouster

Stocks rebounded on Tuesday after Monday's sell-offs. The Dow Jones Industrial Average rose 135.60 points, or 0.30%, to end at 45,418.07. The S&P 500 gained 0.41% at 6,465.94, while the tech-heavy Nasdaq Composite added 0.44% to end the day at 21,544.27.

Investors parsed Trump's removal of Federal Reserve Governor Cook, a move that could potentially hand him a majority on the board. 

The odds that the central bank cuts interest rates in the September meeting rose from 83% to 87% over the last 24 hours, according to the CME FedWatch tool.

Downside Risk For Bitcoin?

Widely followed cryptocurrency commentator and trader Ali Martinez noticed a “death cross” on Bitcoin’s weekly Moving Average Convergence Divergence indicator, a pattern historically linked to downside risk.

Death Cross happens when a short-term moving average, typically the 50-day moving average, crosses below a longer-term moving average, typically the 200-day moving average.

Another well-known analyst, going by the pseudonym Wolf, predicted Ethereum's consolidation between $4,000-$5,000 for "nearly a quarter" before the next leg higher.

Photo Courtesy: Travis Wolfe on Shutterstock.com

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