BTC Drops Under $100K, Altcoins Tumble
The post BTC Drops Under $100K, Altcoins Tumble appeared on BitcoinEthereumNews.com.
The cryptocurrency market faced a steep decline as Bitcoin (BTC) slipped under the $100,000 mark following the Federal Reserve’s 25 basis points rate cut announcement. Contrary to expectations of a favorable market response, the news sparked widespread sell-offs, heavily impacting major altcoins. Ethereum (ETH) fell by 6%, and XRP experienced a notable 10% drop, with most cryptocurrencies trending negatively. An exception to the downturn was USUAL, which surged by 23% in the last 24 hours. The overall market capitalization fell by 5% to $3.44 trillion. However, trading volumes spiked by 40%, reaching $251 billion, indicating active market participation. The Fear and Greed Index remained at 69, reflecting a greedy sentiment despite the dip. Here’s a closer look at some top cryptocurrencies by market cap and their prices today, December 19. Cryptocurrency Market Today: BTC, ETH, XRP, and SOL Prices Drop The cryptocurrency market today saw significant declines following the Federal Reserve announcement of a 25 Bps rate cut. Bitcoin (BTC) fell below the $99,000 mark, while Ethereum (ETH) and XRP dropped by 6% and 10%, respectively. Solana (SOL) also faced a 5% decline, reflecting the broader market downturn. Bitcoin Price Today Bitcoin (BTC) price was down by approximately 4%, trading at $100,880. Its 24-hour low and high were $98,874 and $105,389, respectively. The market cap stood at $2 trillion, with $100 billion in trading volume and a market dominance of 57.12%. As per SoSo Value, BTC ETFs recorded a net inflow of $275 million, led by BlackRock’s $359 million purchase. Meanwhile, Grayscale and Invesco registered outflows of $35 million and $25 million, respectively. In related news, BOB (Build on Bitcoin) advanced its mission to position Bitcoin at the forefront of decentralized finance (DeFi) by integrating with Babylon, a Bitcoin staking protocol. Ethereum Price Today Ethereum (ETH) price was trading at…
Filed under: News - @ December 19, 2024 8:24 am