Crypto Gives Away Week's Gains in Friday Decline

Markets take the escalator up and elevator down goes an old Wall Street shibboleth, and crypto is following that script this week, with several days of hard-earned gains more than wiped away in Friday trade. Nearly pushing through the $118,000 level at one point on Thursday after the Federal Reserve one day earlier trimmed interest rates for the first time this year, bitcoin (BTC) has pulled back to $115,600, down 1.5% over the past 24 hours and now essentially flat over the past seven days. Ether (ETH) has pulled back from the $4,750 area to $4,460, lower by 2.9% over the past 24 hours and now off 1.5% week-over-week. Amid ETF excitement and growing institutional adoption, the two hottest crypto majors this week were solana (SOL) and dogecoin (DOGE). Both, however, have returned to flat over the last seven days, with SOL lower by 4.5% over the past 24 hours and DOGE down 6.3%. TECHNICAL FACTORS SUGGEST REASON FOR OPTIMISM In a world where U.S. stocks have been putting in record highs on a daily basis, it may seem that…