Bitcoin and Ether continue to pull back as Ripple verdict is reassessed
Bitcoin and Ether experienced a pullback for the second consecutive day, partially prompted by investors reassessing the impact of Ripple’s recent court victory over the SEC in the XRP token case.
There is apprehension around a potential SEC appeal and interpretations of the judge’s ruling that certain tokens are not securities.
Bitcoin, having recently dropped below US$30,000, could potentially slide further.
Bitget analyst Fernando Pereira noted a pattern in Bitcoin’s pricing resembling early January’s precursory signal to a major price increase.
However, he anticipates a downward trend this time.
Bitcoin currently hovers near US$30,000, struggling to break away from this price point, according to André Franco, head of Research at MB.
Recent on-chain data indicates a decrease of 6,000 bitcoins in long-term investor holdings.
As of 9:25 a.m., Bitcoin, and Ether were down by 0.9% and 0.8%, trading at US$29,873.70 and US$1,890.66, respectively, according to CoinGecko.
Cryptocurrency expert Ricardo Pegnoratto noted that large-scale investors or “whales” transfer funds from exchanges to private wallets, demonstrating long-term confidence.
Whether this activity is speculative anticipation for the halving event next year or if other factors drive it remains.
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Live Market IntelligenceCrypto — Live Market Board
Rio Times · Live Market Intelligence
Crypto — Live Market Board
-2.11%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| BTC | 66,810 | -2.11% | -29.22% | 68,249 | 68,361 | 66,536 | 30,875,385,856 |
| ETH | 1,893 | -1.77% | -39.00% | 1,928 | 1,933 | 1,882 | 11,619,643,392 |
| SOL | 75.39 | -3.47% | -45.62% | 78.10 | 78.39 | 75.09 | 3,415,354,112 |
| XRP | 0.99 | -2.07% | -55.95% | 1.01 | 1.01 | 0.98 | 2,247,312,128 |
| BNB | 610.92 | -2.94% | -33.28% | 629.43 | 631.14 | 610.92 | 1,094,168,448 |
| ADA | 0.16 | -4.15% | -67.65% | 0.17 | 0.17 | 0.16 | 260,856,544 |
| DOGE | 0.06 | -3.06% | -60.32% | 0.06 | 0.06 | 0.06 | 550,020,416 |
| AVAX | 7.99 | -2.86% | -47.14% | 8.22 | 8.25 | 7.98 | 294,039,776 |
| LINK | 9.53 | -3.06% | -30.98% | 9.83 | 9.88 | 9.53 | 268,611,040 |
| DOT | 0.78 | -4.57% | -72.20% | 0.82 | 0.82 | 0.78 | 68,636,744 |
| LTC | 47.74 | -3.22% | -51.05% | 49.32 | 49.52 | 47.74 | 197,141,664 |
| BCH | 215.57 | -2.58% | -55.07% | 221.27 | 221.98 | 213.51 | 117,473,472 |
| TRX | 0.31 | +0.23% | +6.89% | 0.31 | 0.31 | 0.31 | 336,159,648 |
| XLM | 0.14 | -2.71% | -45.25% | 0.15 | 0.15 | 0.14 | 214,244,272 |
| HBAR | 0.06 | -2.56% | -60.79% | 0.06 | 0.06 | 0.06 | 62,674,680 |
| NEAR | 3.31 | -3.80% | +40.86% | 3.44 | 3.47 | 3.31 | 591,908,672 |
| ATOM | 1.35 | -1.87% | -51.95% | 1.37 | 1.37 | 1.32 | 21,635,688 |
| AAVE | 106.00 | -4.91% | -39.03% | 111.47 | 112.12 | 106.00 | 205,059,584 |
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