Bitcoin, the heavyweight champ of cryptocurrencies, has taken a slight tumble of 3% in the past day, landing at approximately $42,400 after brushing a yearly peak of $45,000. Why the slip? It seems solid economic figures from the U.S. have given the dollar a leg up, causing Bitcoin to loosen its grip a bit. Plus, it looks like some traders decided to cash in on the recent climb.
Despite the dip, the team over at LMAX Digital is bullish on the crypto forecast, predicting these little stumbles for Bitcoin and Ether won’t last long and we might even see them setting new records for the year. Now, flipping over to the investment world, Goldman Sachs predicts the Fed’s interest rate trim won’t happen until the later half of 2024, a forecast that’s riding the same wave as the current crypto uptick. Over at ARK Invest, Cathie Wood is shaking things up by letting go of a hefty chunk of Coinbase shares, banking a cool $49.2 million. And while Bitcoin’s been in the spotlight, let’s not overlook the small but mighty altcoins who’ve been standing their ground, hinting at an altcoin bull run in the making.