Bitcoin hovers around $114,100 as crypto market remains flat
Bitcoin hovered around $114,100 on Wednesday, slipping 0.1% in 24 hours, while the overall crypto market also edged down.
Altcoins like XRP and Solana dropped 2-3%, and Ethereum dipped slightly—showing investors are playing it safe as uncertainty lingers.
Bitcoin's stuck below key resistance zone
If you're watching crypto, Bitcoin's stuck just below a key resistance zone ($114,500-$115,500), making its next move pretty important.
Big investors pulled nearly $200 million from Bitcoin ETFs on Wednesday—possibly cashing out or avoiding risk—while Ethereum ETFs actually saw money flow in.
The US SEC also cleared up some rules around crypto staking, which could make things a bit less confusing for everyone.
Short-term signals for Bitcoin look bearish
Bitcoin's short-term signals look bearish right now—it's trading below important averages and needs to break above $116K to turn things around.
Plus, slower US economic growth (with July's service sector data barely positive) has made traders more cautious across the board.