Ripple Drops 6%, Bitcoin Falls 5% in Crypto Pullback Defying Stock Rally - EUROPE SAYS
Quick ReadXRP fell 6% to $1. 14 and Bitcoin dropped 5% after the Fed signaled fewer rate cuts, defying a rising stock market. Ethereum also slid, pulling the total crypto market cap to $2. 15 trillion as the. . .
Quick ReadXRP fell 6% to $1. 14 and Bitcoin dropped 5% after the Fed signaled fewer rate cuts, defying a rising stock market. Ethereum also slid, pulling the total crypto market cap to $2. 15 trillion as the Fear & Greed Index hit extreme fear at 19. Over $200 million in crypto longs liquidated in four hours, cascading into a selloff even while the major U. S. stock market indexes were in the green on Thursday. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Grayscale Bitcoin Mini Trust ETF didn’t make the cut. Grab the names FREE today. Ripple (CRYPTO:XRP) is down 6% over the past 24 hours, sliding to roughly $1. 14 by Thursday afternoon. The drop marks a sharp risk-off turn for the token even as U. S. equity benchmarks push higher on the session. It’s the kind of session where the macro headlines for stocks and cryptocurrency seem to be pulling in opposite directions. SashaMagic / Shutterstock. comBitcoin (CRYPTO:BTC) is right behind XRP, off 5% over the same window to roughly $62,500. Ethereum (CRYPTO:ETH) joined the slide, with the total crypto market cap easing to about $2. 15 trillion, a level near a yearly-low technical floor. Bitcoin and Ethereum had both been wobbling for weeks, but Thursday’s break is the cleanest sector-wide flush in some time. The notable wrinkle is the divergence between asset classes for Bitcoin and Ripple. The NASDAQ 100 is trading 2. 4% higher on the day, but digital assets are absorbing a fresh wave of selling. The Crypto Fear & Greed Index sits at 19, which is in “extreme fear” territory, while the equity-side CBOE Volatility Index (VIX) reads 16. 68, which is within its normal range. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Grayscale Bitcoin Mini Trust ETF didn’t make the cut. Grab the names FREE today. Hawkish Fed Hold Sparks a Dollar-Driven SelloffThe apparent catalyst traces back to Wednesday’s Federal Reserve decision. The Fed held its policy rate steady at 3. 75% on June 17, but delivered a more hawkish signal on the path ahead, indicating fewer rate cuts than markets had been pricing in. Bitcoin and XRP both reacted sharply as a stronger U. S. dollar followed almost immediately. A firmer dollar tends to reduce appetite for non-yielding risk assets like crypto, and the policy shift is hitting digital assets harder than stocks. The 10-year Treasury yield sits at 4. 43%, still in the upper end of its 12-month range, which keeps pressure on speculative corners of the market. The 10-year minus 2-year spread has also compressed to 0. 29%, a 12-month low, hinting at growing macro uncertainty alongside the hawkish Fed tone. Tags:cryptocryptocurrencydigital assetsGrayscale Bitcoinstock marketTop 10 AI Stockstotal crypto market capxrp