From Nasdaq Inc.:

Major cryptocurrencies continued to trade mixed on Wednesday. Bitcoin was up 0.52% at $40,012, Ethereum down 0.49% at $2,216, and Dogecoin up 0.49% at $0.078. This comes as Bitcoin sees a 17.5% correction and a collective $385 million liquidation in long futures contracts.

A broader economic scale shows the U.S. dollar gaining traction, indicating investor confidence. The probability of an interest rate reduction in March decreased to 47% from 81%. The global cryptocurrency market cap now stands at $1.56 trillion, showing a 0.48% increase in the past 24 hours.

In Wednesday’s session, the S&P 500 and Nasdaq Composite concluded on a positive note, with the Nasdaq achieving a 0.4% increase. Analyst Michael Van de Poppe suggests Bitcoin is approaching a critical level of support at the $36-38K range.

Crypto analyst Benjamin Cowen has signaled a potential downtrend for Bitcoin based on a key indicator. Ali Martinez reported an increase in Bitcoin whales, with 46 new entities now holding 1,000 BTC or more, marking a 3% increase in just two weeks.



Read more: Bitcoin, Ethereum, Dogecoin Trade Mixed Amid Broader Macroeconomic Worries: Analyst Says Market Correction Hasn’t Slowed Down Whales