Posted 2/22/2024, 6:50:00 AM
Bitcoin and Ethereum Dip Before Recovering as Traders Take Profits
- Bitcoin fell to $50,700 and ether dropped to $2,890 before recovering some losses early Thursday
- The crypto market decline was seen as expected profit-taking and not indicative of a broader downtrend
- Nvidia's positive earnings report was a catalyst for the crypto market rebound
- AI tokens like Worldcoin's WLD saw a surge in activity and market cap ahead of the Nvidia report
- Some traders say bitcoin's dominance needs to fall below 45% for an altcoin season rally to truly begin