$BTC $ETH $SOL The cryptocurrency fails to maintain Thursday's increases thanks to the market's reaction to the words of the president of the US Federal Reserve (Fed), Jerome Powell, about keeping interest rates at their level current and insist that it will carry out three cuts during 2024, although it has reduced the flexibility expected for 2025 and 2026.

According to JP Morgan analysts, bitcoin could fall even further, since it is in "overbought territory", despite the strong correction. Furthermore, they consider that, "as we approach the halving, it is more likely that this profit-taking will continue, especially in a positioning context that still seems overbought despite last week's correction."

"Despite this negative environment, markets appear to remain optimistic. According to CoinGlass, the long-to-short ratio of Ethereum-related derivatives remains at approximately 1.1, despite the relatively large liquidations to which they were subjected long positions this month. Open interest in Ethereum futures also remains near all-time highs of approximately $12 billion," they add on XS.com.

Of the rest of the cryptocurrencies, Solana plummets more than 7%, to $174, XPR gains more than 1%, to $0.623, and Cardano loses more than 2%, to $0.621.