Why did Bitcoin and Ethereum prices fall on Thursday morning?

Bitcoin and Ethereum prices retreated on Thursday morning as traders took profits following a recent rally.

How do crypto credit cards work?

Crypto credit cards function like standard credit cards but offer rewards in cryptocurrency, converting spending back into digital assets like Bitcoin.

What is the main benefit of earning crypto rewards?

The biggest benefit of crypto rewards is the potential for their value to grow over time, even without earning additional rewards.

Home / Business and Economy / Crypto Rally Cools: Profit-Taking Hits Bitcoin, Ethereum

Crypto Rally Cools: Profit-Taking Hits Bitcoin, Ethereum

16 Apr

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Summary

Bitcoin opened at $74,813.22, up 0.9% from Wednesday.
Ethereum opened at $2,359.95, up 1.6% from Wednesday.
Crypto credit cards offer rewards in cryptocurrency instead of traditional points.

Crypto Rally Cools: Profit-Taking Hits Bitcoin, Ethereum

Bitcoin (BTC-USD) and Ethereum (ETH-USD) saw their opening prices rise on Thursday, with Bitcoin at $74,813.22 (up 0.9%) and Ethereum at $2,359.95 (up 1.6%). This upward trend followed a recent announcement of a two-week ceasefire between the U.S. and Iran, which had previously boosted cryptocurrency values.

However, by 7:15 a.m. ET on Thursday, both digital currencies experienced a slight retreat as many traders opted to secure profits. This profit-taking activity tempered the rally, with the cryptocurrency market showing a more cautious approach compared to equities, as evidenced by the S&P 500's record-setting performance the previous day.