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  • Bitcoin Holds Up as Tech Stocks Plunge, Ether Sinks a Day After ETF Launch
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Bitcoin Holds Up as Tech Stocks Plunge, Ether Sinks a Day After ETF Launch

cryptovert July 25, 2024 1 min read

The
broad-market
crypto
benchmark

CoinDesk
20
Index

was
also
flat
over
the
past
24
hours,
with
Solana’s

SOL

and
Ripple’s

XRP

outperforming
the
broader
market,
advancing
3%
to
4%
over
the
same
period.
Avalanche

(AVAX)
,
Uniswap

(UNI)

and
Ethereum
Classic

(ETC)

were
lower
by
3%
to
4%.

Ether’s

(ETH)

price
action
disappointed
investors
despite
a

fairly
successful
spot
ETF
debut

Tuesday,
with
ETH
dipping
as
low
as
$3,300,
an
almost
4%
decline
over
the
past
24
hours.
It
also
hit
its
weakest
price
in
two
months
versus
bitcoin.

“The
real
money
interest
was
strong
enough
to
deem
the
launch
a
marginal
success,
aligning
with
general
expectations,
but
not
yet
strong
enough
to
demand
a
repricing,”
analysts
at
crypto
market
maker
Wintermute
said.
“This
may
come
in
subsequent
sessions.”

Continue Reading

Previous: Is Donald Trump Insulating Bitcoin’s Price From the Tech Stock Slide?
Next: Sygnum’s First-Half Spot Crypto Trading Doubles, Derivatives Increase 500%

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