As Bitcoin took a nosedive yesterday after briefly crossing the crucial resistance at the 100k mark, other cryptos followed suit. The leading altcoin, Ethereum, dipped below $3,400, losing the last seven days’ worth of gains.
The volatile move can be attributed to the stronger-than-expected US economic data, which dashed hopes of aggressive rate cuts by the Fed. More than $300 million dollars worth of crypto longs were liquidated in the process.
On the other hand, the US’s biggest crypto exchange Coinbase got some regulatory relief as the case between the SEC and Coinbase was halted by a US judge.
