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So while Bitcoin and Ethereum are having a rough weekend, there is one currency catching all the attention in the market. Dogecoin is in the news again, and this time it seems that X is behind the movement.
The platform just announced that it is adding cryptocurrency trading directly into its timeline. Nothing surprising here — Elon Musk has been promoting Dogecoin as his favorite cryptocurrency for years, and whenever there’s news about X and payments, the coin tends to react. Historically, this type of Dogecoin news always causes price movement.
Meanwhile, Bitcoin is at $77.86K after dropping during the week — down 0.86% in the last 24 hours. Ethereum doesn’t look much better, trading at $2.33K with a 2.95% decline. Bitcoin ETFs in the U.S. have seen significant net outflows from investors during the week, especially after recent market turbulence.
Analysts are not very optimistic in the short term. Some predict that Bitcoin could fall to $50,000 before finding support. The crypto market continues to face pressure after recent massive liquidations and macroeconomic uncertainty. But hey, while Bitcoin and Ethereum struggle, news about Dogecoin and X keep some traders focused on alternatives. It’s interesting to see how Dogecoin news can generate movement even when overall sentiment is bearish.