Bitcoin (BTC) is trading above $87,000 at the time of writing on Wednesday, as bulls push for stability, following weeks of persistent declines. Altcoins, including Ethereum (ETH) and Ripple (XRP), are also holding steady above key support levels.
Bitcoin (BTC) begins the week on a steadier footing, trading around $86,000 at the time of writing on Monday after last week’s sharp correction. Growing expectations of a potential Federal Reserve (Fed) rate cut in December are boosting risk-on sentiment among BTC traders.
Arbitrum (ARB) edges lower, trading at $0.22 at the time of writing on Wednesday amid a steady decline in the broader cryptocurrency market. Since ARB hit $0.62 in August, marking its third-quarter peak, recovery has been elusive, reflecting a sticky bearish sentiment.