Bitcoin experienced a volatile 6-hour period, seeing profit-taking and liquidations after reaching new highs, with its price down 2.81% while whale accumulation continued. Meanwhile, Binance Coin (BNB) surged over 5% to new all-time highs above $1,300, surpassing XRP in market capitalization, driven by significant corporate accumulation. Ethereum (ETH) retreated 4.47% amid profit-taking, while Solana (SOL) saw a 4.17% dip despite growing buzz around a potential spot ETF and explosive stablecoin growth. The broader market was also influenced by the announcement of S&P Dow Jones launching a new Digital Markets 50 Index tracking crypto assets and blockchain companies.
Key Developments
- S&P Dow Jones announced the launch of a Digital Markets 50 Index tracking Bitcoin, other cryptocurrencies, and digital-asset companies.
- Bitcoin (BTC) saw profit-taking and long liquidations after hitting new highs, despite continued whale accumulation and institutional ETF inflows.
- Binance Coin (BNB) reached new all-time highs above $1,300, with a 5.06% gain, and surpassed XRP in market capitalization, fueled by corporate accumulation.
- Solana (SOL) generated buzz around a potential spot ETF and demonstrated explosive stablecoin growth, even as its price dipped 4.17%.
- Grayscale staked $150 million in Ether (ETH), indicating growing institutional interest in ETH staking, while ETH retreated 4.47% from recent highs.
Next 6 Hour Outlook
Expect continued volatility in Bitcoin as it consolidates recent gains, while altcoins like Solana and BNB may see further momentum or profit-taking depending on specific news and broader market sentiment.