Why Bitcoin Cash And Ethereum Classic Are Falling

Henry Khederian

February 29, 2024

Bitcoin Cash (CRYPTO: BCH) and Ethereum Classic (CRYPTO: ETC) are trading lower by 3.5% to $308.14 and 4.7% to $29.72 Thursday afternoon. Shares of several crypto-related stocks and altcoins are falling, pulling back following recent, marked strength in Bitcoin after the apex crypto pulls back from $63,000.

Bitcoin is the largest and most well-known cryptocurrency. As such, its price movements often influence the overall sentiment in the cryptocurrency market.

When Bitcoin experiences a significant drop or rise, it can trigger similar movements in other cryptocurrencies like Bitcoin Cash and Ethereum due to investors’ reactions to the broader market sentiment.

See Also: Why Crypto-Related Stock Bakkt Is Falling

Bitcoin, Bitcoin Cash and Ethereum also share some technical similarities as cryptocurrencies, including blockchain technology and consensus mechanisms.

Changes in the technical aspects of one cryptocurrency, such as upgrades or scalability issues, can impact market perceptions of other cryptocurrencies with similar technical features.

What’s Going On With Crypto?

US spot Bitcoin ETFs have reached a new peak with daily inflows of $676.8 million, indicating a strong bullish trend. Major contributors include iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund.

Despite Grayscale Bitcoin Trust experiencing outflows, the overall sentiment remains positive, with total inflows nearing $7.4 billion…Read More

Recommended

The Window for Preparation Isn't Just Closing - It's Slamming Shut. - Ad

The Last Gold Bull Market - Ad

Metals... Not Missles... Is the New Arms Race - Ad

Nearly half of ETF investors could go all-ETF within five years, Schwab says. Here's how they're building portfolios with funds like ITOT, BND, and XLK.

This Inexpensive Tesla Rival Is Quietly Gaining Ground — Key Ranking Suggests A Major Breakout Could Be Imminent

Li Auto surges into the top 10th percentile value ranking, up 1.30 points. Undervalued Tesla rival with moderate growth.

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

UPS distribution hub in Louisville has 300 flights per day. What to know

LOUISVILLE, Ky. (AP) — A at a Louisville, Kentucky airport where the company operates its largest package delivery hub.

Typhoon Kalmaegi leaves 26 dead in Philippines, people trapped on roofs and cars submerged

MANILA, Philippines (AP) — Typhoon Kalmaegi has left at least 26 people dead in the Philippines, mostly in flooding set off by the storm, which barreled across the central part of the country on Tuesday, disaster response officials said. Floodwaters trapped scores of people on their roofs and submerged cars.

Trump's Hidden Fed Agenda

Trump's Hidden Fed Agenda - Ad

Trump's latest moves show he's preparing to reshape the Federal Reserve - and the value of the U.S. dollar. With key appointees already in place, the coming monetary reset could send gold soaring like it did in the 1970s, when it climbed 24X in under a decade.

IRS Direct File won't be available next year. Here's what that means for taxpayers

WASHINGTON (AP) — IRS Direct File, the electronic system for filing tax returns for free, will not be offered next year, the Trump administration has confirmed.

ON Semiconductor, Williams Companies And 3 Stocks To Watch Heading Into Monday

Key stocks to watch include Williams Companies, Spirit AeroSystems, Goodyear Tire & Rubber, IDEXX Laboratories, and ON Semiconductor

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Dave Ramsey Reveals Why Millionaires Crush Mortgages Early

Dave Ramsey advises buying a home with cash, citing his firm's survey of millionaires who often retire their mortgages in about 10 years.

Nation's largest fleet of police Cybertrucks to patrol Las Vegas

LAS VEGAS (AP) — The nation's largest police fleet of Tesla Cybertrucks is set to begin patrolling the streets of Las Vegas in November thanks to a donation from a U.S. tech billionaire, raising concerns about the blurring of lines between public and private interests.

America's Defense Future Starts Underground

America's Defense Future Starts Underground - Ad

A N. American metals project just caught the attention of Rio Tinto - a mining giant. With four projects in key regions, this firm is aligned with Washington's push to rebuild the defense-metal supply chain.

Cathie Wood Goes All-In On Peter Thiel's Crypto Play Bullish With Back-To-Back Million-Dollar Buys

Cathie Wood-led Ark Invest purchased shares in Bullish, a crypto exchange backed by Peter Thiel, through three of its funds. Other key trades were also made, including buying shares in CRISPR and Beam Therapeutics.

Rigetti, D-Wave Stocks Down, ETF Reactions Diverge In Market Shakeup

Quantum ETFs face turbulence as Rigetti and D-Wave stocks plummet.

Sell Nvidia and Replace It With What?! The Truth Behind Eric Fry's Off-The-Wall Trade Idea...

Sell Nvidia and Replace It With What?! The Truth Behind Eric Fry's Off-The-Wall Trade Idea... - Ad

Eric Fry is breaking ranks with Wall Street by saying "Sell Nvidia." Because history, he says, is repeating itself. In 2000, Eric Fry told Barron's that folks should sell one of the dot-com boom's most beloved stocks right before it fell more than 90%. Now, he says investors need to replace Nvidia stock with a much better alternative - before their money is wiped out.

Cathie Wood Bets Big On Jack Dorsey's Bitcoin-Heavy Block, Adds Amazon And Alibaba — Sells Shopify, Surging Palantir

On Monday, Cathie Wood-led Ark Invest executed significant trades, including a notable purchase of shares in Amazon.com Inc. (NASDAQ:AMZN), Block Inc.

OpenAI and Amazon sign $38B deal for AI computing power

SEATTLE (AP) — OpenAI and Amazon have signed a $38 billion deal that enables the ChatGPT maker to run its artificial intelligence systems on Amazon's cloud computing services.

Is This Nvidia's Next Big Invention?

Is This Nvidia's Next Big Invention? - Ad

Nvidia helped trigger a historic AI boom that minted 600,000 millionaires in America. It's now working on a new tech that could be even bigger than AI. According to Bank of America, "this [technology] could be the biggest revolution for humanity since discovering fire."

Investigators look into 'repeating bell' heard during takeoff of UPS cargo plane that crashed

LOUISVILLE, Ky. (AP) — A repeating bell sounded in the cockpit for 25 seconds as pilots tried to control a UPS cargo plane that caught fire, had an engine fall off and this week in Louisville, Kentucky, a National Transportation Safety Board member said Friday.

Trump Touts 'Really Good Deal' With China As US Stock Futures Rally — Dow Up 91 Points While Gold, US Dollar Remain Flat

U.S. stock futures are surging on Sunday evening, following greater clarity and easing trade tensions between the United States and China over the weekend, following the summit between President Donald Trump and Chinese President Xi Jinping in South Korea last week.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Japanese game maker Nintendo reports zooming sales and profit on its hit Switch 2 machine

TOKYO (AP) — Japanese video-game maker Nintendo’s net profit jumped 85% in April-September from the year before, as its sales more than doubled following the launch of its hit Switch 2 console in June, the company said Tuesday.

Taylor Swift, Elon Musk, Donald Trump, MrBeast — Robinhood Just Made Their Mojo Tradable

Robinhood has new prediction markets for its customers, with a focus on the entertainment sector. Here are some of the new markets.

The Window for Preparation Isn't Just Closing - It's Slamming Shut.

The Window for Preparation Isn't Just Closing - It's Slamming Shut. - Ad

What I've uncovered about the true impact of President Trump's tariffs and DOGE initiative has left me deeply troubled. As someone who worked inside the Federal Reserve system and managed billions for America's wealthiest families, I recognize the warning signs others miss. I urge you to see my urgent message immediately.

Ferrari CEO Confirms Electric Car Plans, Raises Full-Year Outlook

Ferrari N.V. stock rose after reporting Q3 results and guidance. Sales grew 7.4% and EPS beat estimates. Net revenues and adjusted EPS outlook raised.

Deep in Trump country, coal miners with black lung say government is suffocating the 'working man'

OAK HILL, W.Va. (AP) — Lisa Emery loves to talk about her “boys.” With each word, the respiratory therapist’s face softens and shines with pride. But keep her talking, and it doesn’t take long for that passion to switch to hurt. She knows the names, ages, families and the intimate stories of each one’s scarred lungs. She worries about a whole community of West Virginia coal miners — including a growing number in their 30s and 40s — who come to her for help while getting sicker and sicker from what used to be considered an old-timer’s disease: black lung.

The Last Gold Bull Market

The Last Gold Bull Market - Ad

The last great gold bull market of our lifetime has already begun. Global debt is exploding, confidence in the dollar is cracking, and nations everywhere are turning back to gold. The Great Reset is really about gold's return to the monetary system - a moment that will define the next decade... and those positioned early could reap generational wealth.

Average US long-term mortgage rate ticks up to 6.22% after four straight weekly declines

The average rate on a 30-year U.S. mortgage ticked up for the first time in five weeks after falling to its lowest level in more than a year last week.

Britain's Treasury chief prepares the ground for a tax-hiking budget

LONDON (AP) — U.K. on Tuesday signaled she will raise taxes in her budget this month, arguing that the economy is sicker than the government knew when it took office last year.

Metals... Not Missles... Is the New Arms Race

Metals... Not Missles... Is the New Arms Race - Ad

China and Russia control 70% of the world's critical minerals, giving them leverage over the West. One N. American discovery could help shift that balance by developing the metals essential for defense systems.

Scott Bessent Calls Elon Musk 'One of The Great Entrepreneurs' of This Generation: Says $1 Trillion Pay Package Is For 'Shareholders To Decide'

U.S. Treasury Secretary Scott Bessent praised his former colleague, Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk, while weighing in on his controversial $1 trillion compensation package.

McDonald's Q3 Preview: Report Shows Visitor Slump — Can Value Meals, Monopoly Help Guidance?

McDonald's may have seen a drop in visitors during the third quarter, according to a new report. Here's why investors may be more excited about Q4.

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Benzinga Bulls And Bears: Starbucks, DraftKings, Enovix — And AI Stocks Take A Fall

Benzinga examined the prospects for many investors' favorite stocks over the last week — here's a look at some of our top stories.

Rivian Automotive CEO Gets An Elon Musk-Style Pay Raise

Rivian CEO's new pay plan could be worth up to $4.6 billion over the next ten years.

Trump's Hidden Fed Agenda

Trump's Hidden Fed Agenda - Ad

Spotify Premium Subscribers Boost Q3 Revenue, Eyes Strong Holiday Quarter

Spotify (NYSE: SPOT) shares rose after reporting better-than-expected Q3 results, with revenue of $4.99B and 17M new MAUs.

As Government Shutdown Enters 33rd Day, NYC Officials Warn Of Potential Delays, Ground Stoppage At Newark Airport

NYC officials warn of staffing shortages at Newark airport due to government shutdown, causing delays & potential ground stop.

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

UPS and FedEx grounding MD-11 planes following deadly Kentucky crash

LOUISVILLE, Ky. (AP) — UPS and FedEx will ground their fleets of McDonnell Douglas MD-11 planes “out of an abundance of caution” following a deadly crash at the UPS in Kentucky, the companies announced late Friday.

Trending Now