Bitcoin (BTC) price hovers around $88,500 on Wednesday after breaking out of its prolonged consolidation phase and reaching a low of $86,050 earlier this week. Ethereum (ETH) and Ripple (XRP) followed BTC’s footsteps and declined by nearly 11% and 12%, respectively.
Strategy (formerly MicroStrategy) witnessed an 11% stock decline on Tuesday, stirred by Bitcoin’s market’s plunge below $90,000 and fueling speculations of a forced liquidation for the company.
Ethereum (ETH) found support at the lower boundary of a descending channel following the Ethereum Foundation executive director Aya Miyaguchi announcing her stepping down from executive director to become the non-profit’s new president.
