Bitcoin, Ethereum, Dogecoin Jump On Jerome Powell's Bullish BTC Take, Paul Atkins SEC Nomination: Analyst Highlights Impressive 320% Upside For ETH By May

Benzinga12-05

Leading cryptocurrencies spiked Wednesday on Federal Reserve Chair Jerome Powell's favorable comments on Bitcoin and nomination of Paul Atkins as the next U.S. Securities and Exchange Commission Chair...

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href=https://www.benzinga.com/24/12/42330939/bitcoin-ethereum-dogecoin-jump-on-jerome-powells-bullish-btc-take-paul-atkins-sec-nomination-analyst-highlights-where-would-eth-be-by-may-2025><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Leading cryptocurrencies spiked Wednesday on Federal Reserve Chair Jerome Powell's favorable comments on Bitcoin and nomination of Paul Atkins as the next U.S. Securities and Exchange Commission Chair...</p>\n\n<a href=\"https://www.benzinga.com/24/12/42330939/bitcoin-ethereum-dogecoin-jump-on-jerome-powells-bullish-btc-take-paul-atkins-sec-nomination-analyst-highlights-where-would-eth-be-by-may-2025\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://www.benzinga.com/24/12/42330939/bitcoin-ethereum-dogecoin-jump-on-jerome-powells-bullish-btc-take-paul-atkins-sec-nomination-analyst-highlights-where-would-eth-be-by-may-2025","article_id":"2489517294","we_media_id":null,"thumbnails":["https://www.benzinga.com/files/images/story/2024/12/04/Cryptocurrency-Photo-by-SvetlanaParnikov_0.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489517294","pubTimestamp":1733364308,"columns":[],"sourceInfo":{"source_id":"Benzinga","name":"Benzinga Cypto"},"weMediaInfo":null,"summary":"Leading cryptocurrencies spiked Wednesday on Federal Reserve Chair Jerome Powell&#39;s favorable comments on Bitcoin and nomination of Paul Atkins as the next U.S. Securities and Exchange Commission Chair.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","BK4096":"电气部件与设备","BTC":"Grayscale Bitcoin Mini Trust","CETH":"21Shares Core Ethereum ETF","EZET":"Franklin Ethereum Etf","SAND":"沙尘暴黄金","ETHV":"Vaneck Ethereum ETF","BK4601":"加密货币现货ETF","QETH":"Invesco Galaxy Ethereum ETF","BK4594":"比特币ETF概念","ETH":"Grayscale Ethereum Mini Trust","FETH":"Fidelity Ethereum Fund","BK4017":"黄金","BK4585":"ETF&股票定投概念"},"translate_title":"比特币、以太币、狗狗币因Jerome Powell看涨BTC、Paul Atkins SEC提名而上涨：分析师强调ETH到5月份将有令人印象深刻的320%上涨空间","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CETH":1,"SAND":1,"QETH":1,"FETH":1,"EZET":1,"ETHV":1,"ETH":1,"BTC":1},"content_text":"Leading cryptocurrencies spiked Wednesday on Federal Reserve Chair Jerome Powell's favorable comments on Bitcoin and nomination of Paul Atkins as the next U.S. Securities and Exchange Commission Chair.\nCryptocurrencyGains +/-Price (Recorded at 7:45 p.m. ET)Bitcoin BTC/USD+2.88%$98,465.76Ethereum ETH/USD               +5.01%$3,808.09Dogecoin DOGE/USD          +3.25%$0.4253\nWhat Happened: The world's largest cryptocurrency breached $99,000 after a 10-day gap, while Ethereum tapped $3,800 for the first time in six months. \nThe rally was likely spurred by Powell equating Bitcoin with gold and dispelling notions that the leading cryptocurrency was a threat to the U.S. monetary system.\nThe appointment of Paul Atkins, perceived to be cryptocurrency-friendly, as SEC's next Chair by President-elect Donald Trump, also provided fuel.\nMore than $513 million was liquidated from the cryptocurrency market in the last 24 hours, with $330 million in bullish bets getting erased.\nAbout $383 million in short positions risked liquidation on Binance if Bitcoin hits $100,000.\nAdditionally, the number of top trader accounts shorting Bitcoin exceeded those placing bullish bets on the asset, as per Long/Short Ratio.\nThe \"Extreme Greed\" strengthened from 78 to 84 in the last 24 hours, per reading from the Cryptocurrency Fear & Greed Index.\nTop Gainers (24-Hours)\nCryptocurrencyGains +/-Price (Recorded at 7:45 p.m. ET)Curve DAO Token (CRV)+23.66%$1.09The Sandbox (SAND)+19.72%$0.9311Gala (GALA)+18.08%$0.06085\nThe global cryptocurrency market capitalization stood at $3.58 trillion, following an increase of 1.75% in the last 24 hours.\nStocks extended their record-breaking rally on Wednesday. The Dow Jones Industrial Average jumped 308.51 points, or 0.69%, to close above 45,000 for the first time. The S&P 500 gained 0.61% to end at 6,086.49, while the tech-heavy Nasdaq Composite spiked 1.30%, ending at 19,735.12. All three indexes closed at record highs.\nThe rally comes amid lower-than-expected growth in U.S. private businesses in November.\nInvestors shrugged off Fed Chair Powell's remarks on moving cautiously with rate cuts given the healthy state of the economy, as odds of a 0.25% slash increased from 72.9% to 74% in the last 24 hours, according to the CME FedWatch tool. \nSee More: Best Cryptocurrency Scanners\nAnalyst Notes: Cryptocurrency analyst venturefounder expected Ethereum to break out of the range where it has been for the last seven years.\n\"Ethereum to repeat this impulsive breakout it did between 2016-2017 to shoot to new ATH very quickly,\" the analyst remarked, setting a bold price target of $15,937 by May 2025\n\n#Ethereum about to break out of the 3 years of triangle consolidation, and $ETH could break out of the range where it has been for past 7 yrs.Ethereum to repeat this impulsive breakout it did between 2016-2017 to shoot to new ATH very quicklyPrice Target: $15,937 by May 2025 pic.twitter.com/YpOeWmM03T— venturefounder (@venturefounder) December 4, 2024\n\nCrypNuevo, a popular X account known for offering technical analysis, predicted that a decisive close above $98,398 will propel Bitcoin to $104,000-$105,000.\n\n$BTC update:4h time frame ✍️Acceptance above this dotted yellow line, 2-3 candles above it is enough to signal a potential push to $104k-$105k.Very important: candle closes above it! I don't want wicks (resistance), I want candle closes. In the meantime, patience… pic.twitter.com/rAnsPbhzPw— CrypNuevo 🔨 (@CrypNuevo) December 4, 2024\n\nCiting on-chain data, Influential analyst Ali Martinez revealed that nearly 400 whales, those holding between 100 and 10,000 BTC, have joined the network in the last two weeks.\n\nAround 400 new #Bitcoin whales—holding between 100 and 10,000 $BTC—have joined the network in the last two weeks! pic.twitter.com/7qY6EGOWKv— Ali (@ali_charts) December 4, 2024\n\nPhoto by SvetlanaParnikova on Shutterstock\nRead Next:    \n\nTrump To Swap Hegseth For DeSantis? Here’s What Polymarket Odds For Defense Secretary Pick Show\n Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. 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