Cryptocurrencies Bitcoin, Ethereum, and XRP maintain stability as Dogecoin experiences a decrease in value. An analyst predicts Bitcoin to recover soon.

Major cryptocurrencies like Bitcoin, Ethereum, and XRP held steady while Dogecoin experienced a slight dip in value. The overall cryptocurrency market saw Bitcoin trading at $91,251.43, Ethereum at $3,099.73, and XRP at $2.05 by 8:30 p.m. ET. Meanwhile, Solana was at $139.04, and Dogecoin was at $0.1367. The crypto market had mixed results, with Bitcoin initially rising to $92,390 before stabilizing at $91,000, while Ethereum remained steady around $3,000.

Both Bitcoin and Ethereum experienced a surge in trading volume, with Bitcoin hitting $38.78 billion and Ethereum at $19.73 billion. Companies like Strategy Inc. and Bitmine Immersion Technologies Inc. saw positive stock gains of 3.11% and 3.56%, respectively. However, over $230 million was liquidated from the crypto market, with a significant portion accounting for long liquidations. Bitcoin’s open interest fell by 2.82%, and the percentage of traders placing long bets on Bitcoin dropped from 69% to 65% on Binance.

In the last 24 hours, top gainers in the crypto market included Story (IP) with a 23.75% increase, Verge (XVG) with an 18.56% gain, and BUILDon (B) with an 18.03% surge. The global cryptocurrency market cap reached $3.11 trillion after a slight uptick of 0.11%.

On the stock side, markets performed well with the Dow Jones Industrial Average closing at a record high of 49,590.20, the S&P 500 at 6,977.2, and the Nasdaq Composite at 23,733.90. Gold and silver prices also surged as investors re-evaluated concerns about Federal Reserve independence following a DOJ probe into Chair Jerome Powell. Oil prices rose slightly to $59.75 per barrel due to heightened geopolitical tensions between the U.S. and Iran.

Analysts and traders are optimistic about Bitcoin’s future, with CryptoQuant noting that short-term holders are selling at a loss while Bitcoin continues its upward trend. Michaël van de Poppe, a prominent analyst and trader, highlighted Bitcoin’s resilience above the 21-day moving average near $90,000, predicting a possible rise to $100,000 within the month.

Overall, the crypto and stock markets showed resilience and stability amid geopolitical tensions and key developments, indicating positive momentum in the coming days.