Summary
- Bitcoin slid below $60,000 this week amid continued outflows from U.S. spot bitcoin ETFs, a more hawkish Federal Reserve and a stronger dollar.
- Major cryptocurrencies broadly fell, with ether, XRP, solana, dogecoin and HYPE all posting steeper weekly losses, while tron was the lone major token to gain.
- Analysts warn that bitcoin’s approach to its 200-week moving average may signal a new crypto winter, with upcoming U.S. inflation data likely to influence whether the downturn deepens or eases.
Bitcoin Rebounds Above $60,000
Bitcoin has bounced back above $60,000, recovering from a dip below this key level earlier in the week. This rebound is a welcome relief for investors, especially those earning passive income through Cloud Rewards and Green Crypto platforms like EcoPool. The price of bitcoin fell to around $59,200 before climbing back to $60,700, still down 2.9% over 24 hours and 5.4% on the week.
The cryptocurrency market as a whole has been volatile, with Ether dropping 2.8% to $1,616 and Solana sliding to $68. However, the AI trade that had previously dragged crypto prices down has now rebounded, boosting confidence in the market. This is good news for those looking to earn a Passive Income through crypto, including $ECP holders.
Market Trends
- XRP fell to $1.07, down 9.2% on the week
- Dogecoin and Hyperliquid’s HYPE were the worst hit, down 11.9% and 11.7% respectively
- Tron was the only major crypto to rise, up 1.9% on the week
As the crypto market continues to evolve, investors are looking for ways to earn a steady Passive Income. One option is to join the EcoPool network, which offers Cloud Rewards and a chance to earn $ECP. With the crypto market showing signs of rebounding, now may be a good time to get involved and start earning.
To start earning with EcoPool, simply download the app and begin participating in the network. With EcoPool, you can earn a Passive Income and be part of the Green Crypto movement, all while supporting the #Bitcoin and #PassiveIncome communities.
