Leading cryptocurrencies and stocks traded flat on Wednesday, while gold extended its record-breaking rally as Federal Reserve Chair Jerome Powell said that rate cuts are not “anybody’s base case” currently.

Bitcoin’s Rally Stalls At $90,000

Bitcoin bulls attempted a breakout above $90,000 but ran into heavy resistance, sending it back toward $88,000.

Ethereum broke past $3,000 but couldn’t hold it for long. Trading volume for the second-largest cryptocurrency plunged 21% over the last 24 hours.

Roughly $233 million was liquidated from the market in the last 24 hours, according to Coinglass, with nearly an equal amount of bullish longs and bearish shorts wiped out.

Bitcoin’s open…

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