Bitcoin, Ethereum, Dogecoin Tumble As Investors Shrug Off Macro Events: Analyst Predicts Prolonged Range Trading In Cryptoverse As Fresh Capital Remains Elusive

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Major cryptocurrencies experienced a significant downturn on Wednesday evening, as investors seemingly ignored industry-specific and macro events that had previously propelled Bitcoin’s price beyond $30,000. What Happened: This sudden shift occurred despite reports of a Fitch downgrade of the U.S. Treasurys and MicroStrategy’s intentions to acquire additional Bitcoin, which initially contributed to the surge before causing it to plummet below $29,000. The current market pattern, which is expected to continue, may change if theSecurities and Exchange Commission (SEC) approves any of the spot bi…

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