Bitcoin Dips Below $88,000 Amid Market Weakness
- Bitcoin (BTC) traded around $87,800, down approximately 2% over the past day.
- Ether (ETH) fell towards $2,880, while Solana, XRP, and Cardano lost between 3% and 5%.
- The market saw $224 million in liquidations on bullish bets, with $68 million on Bitcoin futures.
- More than $1 billion in leveraged positions were wiped out earlier in the week amid macro uncertainty.
- Traders are cautious ahead of a Federal Reserve meeting expected to maintain steady interest rates.
The recent dip below the $88,000 mark for Bitcoin reflects ongoing market fragility and heightened volatility across major cryptocurrencies. Political risks in the U.S., including potential government shutdowns, further contribute to this uncertain environment.
As Bitcoin trades near $87,800 and Ether approaches $2,880, market sentiment remains fragile amidst significant liquidations this week. (Source)
