BITCOIN TRADES NEAR $90,000 AS EQUITY MARKETS REBOUND AND GOLD REACHES RECORD HIGH
Bitcoin traded mostly flat over the past 24 hours after slipping earlier in the session, according to market data. Despite attempts to stabilize, the cryptocurrency showed limited upward momentum and remained range-bound through the day.
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This muted performance came even as broader risk markets improved, with stocks recovering from recent weakness and precious metals continuing to climb.
Stocks Rebound as Gold and Silver Hit Fresh Highs
Traditional markets showed stronger movement than crypto during the session. Equity markets rebounded, while gold and silver prices pushed to new record levels. The surge in metals suggests investors are still seeking safe-haven assets amid ongoing economic and geopolitical uncertainty.
However, the strength in stocks and metals did not translate into a strong rally for Bitcoin, highlighting continued caution in the crypto market.
Ether Slides Despite Fresh Institutional Accumulation
Ether (ETH), the second-largest cryptocurrency by market capitalization, declined during the trading period. The drop occurred even as BitMine Immersion reportedly acquired a large amount of ETH over the past 24 hours, based on data shared by blockchain analytics firm Arkham.
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BitMine Immersion, which has been described as an Ethereum treasury-focused company, now holds a notable share of the overall Ether supply, according to the report. Even with this accumulation, ETH remained under pressure, suggesting that short-term market sentiment continues to outweigh individual buying activity.
Altcoins Trade Mixed as Market Momentum Stays Weak
Most major altcoins moved slightly lower or stayed flat throughout Thursday’s session. The broader market showed no strong trend, with traders appearing hesitant to take large positions due to elevated uncertainty.
Overall, crypto markets continued to consolidate, with Bitcoin stable near key levels while Ethereum and other altcoins struggled to attract sustained buying interest.
Conclusion
Cryptocurrency markets remained subdued despite strength in traditional assets. Bitcoin held steady after an earlier dip but failed to gain momentum even as stocks rebounded and gold and silver reached record highs. Ether also traded lower, suggesting that recent institutional accumulation has not yet shifted short-term sentiment. With most altcoins moving sideways or slightly lower, the broader crypto market appears to be in a consolidation phase as investors remain cautious and wait for clearer direction.
- Why did Bitcoin remain flat despite rising stock markets?
Bitcoin failed to build upward momentum as investors remained cautious after recent volatility. Even though equity markets rebounded, crypto traders appeared hesitant to increase exposure until clearer signals emerge.
- How did gold and silver perform during the session?
Gold and silver climbed to new record highs during the trading session. The strong move highlighted continued demand for safe-haven assets amid ongoing economic and geopolitical uncertainty.
- What happened to Ethereum’s price during this period?
Ethereum declined during the session despite reports of large-scale token accumulation. Short-term selling pressure and broader market weakness outweighed the impact of individual buying activity.
- Why is BitMine Immersion significant for Ethereum?
BitMine Immersion is positioning itself as an Ethereum treasury-focused company. Blockchain data indicates it now controls a meaningful share of the overall ETH supply, drawing market attention.
- How did altcoins perform overall?
Most major altcoins traded sideways or slightly lower throughout the session. This reflected a lack of strong conviction among traders and a broader wait-and-see approach across the market.
