Crypto markets saw a decline during Tuesday’s trading, with Bitcoin falling from its record highs but remaining close to the $124,000 barrier amid ongoing uncertainty surrounding the US government shutdown.
According to Coinbase data, Bitcoin fell 1.19% to $123,969, after breaching the $126,000 level for the first time in its history yesterday.
Ethereum (ETH)
Ethereum also fell 0.66% to $4,682.1, Ripple fell 1.28% to $2.97, and Dogecoin fell 2.54% to $26.12.
XRP (XRP)
Analysts link the recent gains in cryptocurrencies, along with the rise in gold, to the federal government shutdown that began in early October, which prompted investors to seek alternative havens in digital assets and precious metals.
Dogecoin (DOGE)
In this context, Ryan Lee, senior analyst at the Bitget trading platform, expects Bitcoin to continue to hold at high levels in the near term.
Ethereum, meanwhile, may see a recovery toward the $4,800-$5,000 range, supported by Bitcoin’s strength and anticipated technical developments, according to Crypto News.
