Bitcoin, Ethereum, XRP, Dogecoin Dip As Recession Fears Linger
Major cryptocurrencies are down on Wednesday amid Federal Reserve Chair Jerome Powell commenting on the state of the economy.CryptocurrencyPrice Gains +/-Bitcoin BTC/USD $83,832-0.7%Ethereum ETH/USD $1,561-3.2%Solana SOL/USD $127.65-0.4%XRP XRP/USD $2.09-1.7%Dogecoin DOGE/USD $0.1532-1.6%Shiba Inu SHIB/USD $0.00001167-1.4%Notable Statistics:IntoTheBlock data shows large transaction volume increasing by 25.9% and daily active addresses growing by 2%. Transactions greater than $100,000 are down from 9,856 to 9,765 in a single day. Exchanges netflows are down by 18.3%. Coinglass data reports 143,467 traders were liquidated in the past 24 hours for $292.39 million. Notable Developments:Could Bitcoin Bonds Solve The $14 Trillion US Debt Burden? VanEck Says It’s Possible Bitcoin To Outperform Gold In Coming Months, Says Anthony Pompliano Coinbase Warns Of Crypto Bear Market, But Says A Recovery In 2025 Is Possible Panama City Council Now Accepts Bitcoin, Ethereum For Taxes, Fines, Fees As US Economy Resembles ‘Emerging Market’, Bitcoin Is More ‘MAG-8’ Than Gold, Mike Novogratz Says Top Gainers:CryptocurrencyPrice Gains +/-Fartcoin FARTCOIN/USD$0.9161+10.4%EOS EOS/USD$0.635+6.0%Curve DAO CRV/USD$0.635+5.8%Trader Notes: Crypto analyst MaxBecauseBTC says Bitcoin is approaching a major trend shift, with buyers beginning to step in at current levels. If the price can flip the zero line, he anticipates an upward breakout but emphasizes that key confirmation is still pending.According to analytics firm Santiment, crypto markets are staging a modest rebound, with Bitcoin hovering near $85,000 and repeatedly testing that level. The market intelligence platform is cautiously optimistic for a potential push toward $90,000, though broader moves will hinge on evolving tariff developments and global macro conditions this week.Technical analyst Kevin highlighted a potential inverse head and shoulders pattern forming on the Bitcoin chart, a typically bullish signal in calmer environments. However, current macro headwinds, particularly around trade tariffs, are clouding sentiment and delaying conviction.Meanwhile, Blockchainedbb sees Bitcoin holding steady around the $85,000 zone and warns it's not an ideal time to short. She expects some choppy, sideways price action through Wednesday, cautioning that early short positions could get liquidated before the market reveals its hand. Her advice: stay on the sidelines and wait for clearer signals by Friday.Read Next: Bitcoin Dominance Rises: Is A Break To $93,000 Coming? Image: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.