Bitcoin Crash Dominated By US Selling, CryptoQuant Data Shows

Anchorage Digital has announced the integration of Mezo support into its platform, enabling institutions to borrow and earn on Bitcoin (BTC). This development allows for compliant borrowing against BTC, enhancing institutional access to Bitcoin-backed loans. The partnership aims to provide new financial opportunities for institutions in the cryptocurrency space.

Dogecoin has experienced a significant decline, dropping below the $0.1550 mark against the US Dollar. The cryptocurrency is consolidating losses and may encounter resistance near $0.1560. Following a drop below the $0.150 level, Dogecoin's price has shown bearish trends, with a low recorded at approximately $0.1448. This decline mirrors the broader bearish sentiment affecting major cryptocurrencies like Bitcoin and Ethereum.

Ryan Rasmussen, Head of Research at Bitwise, reiterated the firm's prediction that Bitcoin will reach $200,000 by 2026 during a Yahoo Finance appearance. He characterized the current market sell-off as a necessary shakeout in a maturing market rather than a definitive trend break. Rasmussen believes Bitcoin is closer to its bottom and expects it to lead the market upward once conditions improve.

Japan has approved a $135 billion stimulus package aimed at bolstering its economy amid ongoing challenges. This significant financial injection is expected to support various sectors and stimulate growth as the nation navigates economic uncertainties. The approval comes at a time when Bitcoin (BTC) is experiencing a dip, reflecting broader market volatility.

Bitcoin's price has fallen toward the mid-$80,000 range as market structure weakens heading into the year-end. The cryptocurrency has struggled to maintain its value, reflecting a broader bearish trend in the market. This decline raises concerns about the potential for further losses as investor sentiment shifts negatively.

Bitcoin's price has fallen below $90,000, indicating a bearish trend as it struggles to recover above $88,500. The cryptocurrency has shown signs of weakness, with a recent low of $85,276. The price is currently trading below the 100 hourly Simple Moving Average, and if it remains under $90,000, further declines may occur.

Coinbase has launched Ethereum-backed loans for eligible U.S. customers, allowing users to borrow up to $1 million in USDC without selling their ETH holdings. This new offering aims to enhance liquidity for users while leveraging their existing cryptocurrency assets.

21Shares has launched a new leveraged ETF linked to Dogecoin, coinciding with the completion of its acquisition by FalconX. This initiative provides traders with a novel method to engage with Dogecoin, a prominent cryptocurrency known for its meme origins. The launch signifies a pivotal moment for both 21Shares and FalconX as they expand their offerings in the cryptocurrency market.