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Major coins traded in the red on Thursday as global market capitalization fell 1.75% to $1.04 trillion, recorded as of 8:30 p.m. EST.
Cryptocurrency gains (+/-) Price Bitcoin -2.34% $22,681 Ethereum -3.46% $1,567 Dogecoin -1.69% $0.085
What happened: The largest cryptocurrency by market value, Bitcoin BTC/USD, fell more than 2% to below $23,000. Ethereum ETH/USD changed hands at $1,567, down 3.4%. Dogecoin DOGE/USD is down 1.69% in the past 24 hours, trading at $0.085.
US stocks soared as investors digested the latest GDP report and its positive implications for the economy. The tech-heavy Nasdaq Composite rose 1.7%, the S&P 500 gained 1.1% and the Dow Jones Industrial Average rose 0.6%.
See more: Best Crypto Day Trading Strategies
FTX’s list of creditors, containing 116 pages of information, reveals the profound implications of FTX’s bankruptcy. Companies such as Netflix and Apple AAPL are among those listed as creditors. This comprehensive document further shows that FTX’s debt reaches universities, airlines, charities and the media, as revealed in the latest court filing.
Bitcoin pared losses as soft landing hopes returned after better-than-expected US GDP data. Bitcoin still looks set to consolidate here until next week’s FOMC decision. A notable crypto story was a fine imposed on Coinbase by the Dutch Central Bank. The sanction of central banks is to offer crypto products before they are registered. The $3.6 million fine is a slap on the wrist, but another reminder that the global crackdown on crypto continues, Edward Moya, senior market analyst at OANDA, said in a note seen by Benzinga.
Crypto analyst Michal van de Poppe said “Well, laugh everyone” at current BTC and ETH prices just a few years away. In the shorter term, he is keeping a close eye on the $1,450-$1,600 range for Ethereum,
Regarding BTC, the analyst says he is not interested in long positions at the current Bitcoin price levels.
Poppe said that the altcoins Fantom FTM/USD and Polygon MATIC/USD are currently taking off. FTM and MATIC cross the roof.
Crypto analyst Justin Bennett said that Bitcoin is currently at its highest trendline.
Read next: Elon Musk still doesn’t love him? A Year Later, Mom Still Knows About MrBeast Burger’s Dogecoin Deal
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