Leading cryptocurrencies dipped on Tuesday even as Federal Reserve Chair Jerome Powell made remarks seen as favorable for the industry during a Senate hearing.
| Cryptocurrency | Gains +/- | Price (Recorded at 7:45 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -1.92% | $96,012.26 |
| Ethereum (CRYPTO: ETH) |
-3.34% | $2,607.85 |
| Dogecoin (CRYPTO: DOGE) | -1.87% | $0.2531 |
What Happened: Bitcoin started to slide in the morning hours and hit an intraday low of $94,875.04 before recovering to $96,000 late evening.
Ethereum fell back to the $2,600 zone a day after breaching $2,700. The two leading assets were down 2.61% and 5.19%, respectively, over the week.
In a significant development, Fed Chair Powell assured to “take a fresh look” at debanking, which the cryptocurrency industry had complained about during the previous administration.
Powell also stated that the Fed won’t develop a central bank digital currency under his watch during his testimony before the Senate Banking Committee.
Meanwhile, cryptocurrency liquidations reached $228 million over the last 24 hours, with long liquidations accounting for $154 million.
Bitcoin’s Open Interest rose by 1.49% in the last 24 …
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