Bitcoin dipped below $61,000, and Ether fell 3% on Wednesday, reflecting weakness in the crypto market. Concerns arose as reports indicated that coins linked to China’s PlusToken Ponzi scheme were moved to exchanges, potentially signaling sell-offs. Around $16 million in ETH was transferred, adding to market pressure.
Meanwhile, U.S. prosecutors charged firms like Gotbit with market manipulation. This caused a brief surge in microcap tokens like Robo Inu, while NexFundAI token spiked 3,500% before crashing.
Learn how to trade Bitcoin with Top Forex brokers: strategies for bull and bear markets
In traditional markets, the S&P 500 hit a record high as Federal Reserve officials discussed further rate cuts, although opinions were divided on their size and timing.
Traders could consider short positions or stop-losses to manage risk and explore opportunities in volatile microcap tokens while monitoring Fed developments for market impact. You can also trade Bitcoin and other assets on platforms like eToro, offering access to a wide range of cryptocurrencies and advanced trading tools.
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