The cryptocurrency market experienced a sharp downturn as Bitcoin (BTC) fell below the $100,000 mark after the Federal Reserve announced a 25 basis points cut. Contrary to expectations of a positive market reaction, the news triggered widespread sell-offs, affecting major altcoins. Ethereum (ETH) dropped by 6%, while XRP saw a significant 10% decline, with most cryptocurrencies showing negative momentum.

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 experienced an outflow of 84 million on Wednesday, with Grayscale leading at 35 million and Invesco at 25 million. Data from BlackRock regarding its outflows is still awaited.

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 $3,652, reflecting a 6% drop in the last 24 hours. The 24-hour low and high were $3,543 and $3,902, respectively, showing significant fluctuations in the cryptocurrency market today.

With a market cap of $440 billion and a trading volume of $52 billion, Ethereum remains the second-largest cryptocurrency by market cap. In the cryptocurrency market today, Ethereum ETF outflows amounted to 79 million, with Grayscale leading the outflow at 65 million and Bitwise contributing 14.62 million.

In other news, Bitwise CIO Matt Hougan predicted that Ethereum will surpass Solana (SOL) in 2025. This prediction has generated considerable interest in the ongoing development of both networks.

XRP Price Today

XRP price was trading at $2.32, reflecting a 10% drop in the last 24 hours. The 24-hour low and high were $2.184 and $2.585, showing volatility in the cryptocurrency market today.

With a market cap of $132 billion and a trading volume of $22 billion, XRP remains one of the top cryptocurrencies by market cap. Ripple also launched its native stablecoin token RLUSD, expanding its reach in the stablecoin space.

Solana Price Today

SOL price was trading at $209, reflecting a 5% drop in the last 24 hours. Its 24-hour low and high were $200 and $218, showing notable fluctuations in price.

With a market cap of $99 billion and a trading volume of $7 billion, Solana ranks 6th among the top 10 cryptocurrencies by market cap. Despite the price drop, Solana continues to maintain a strong position in the market. Additionally, the network growth for Solana has reached a new all-time high, highlighting its ever-growing adoption and vibrant ecosystem activity.

Meme Cryptocurrency Market Today

Meme coins also experienced a significant downturn, with Dogecoin (DOGE) down by 7% and trading at $0.36. Shiba Inu (SHIB) price was down by 6%, now trading at $0.00002425.

Other notable meme coins like PEPE, BONK, and WIF saw even larger drops, ranging from 12% to 15% in the last 24 hours. These price movements reflect the broader negative sentiment in the meme coin market today.

Top Crypto Gainers Prices Today

Usual

Usual (USUAL) price saw a remarkable 23% increase in the last 24 hours, now trading at $1.02. Its 24-hour low and high were $0.67 and $1.16, respectively. With a market cap of $456 million, USUAL emerged as the top gainer in the last 24 hours, outperforming many other cryptocurrencies in the market today.

Movement

Movement (MOVE) price was trading at $0.70, reflecting a 14% increase in the last 24 hours. Its 24-hour low and high were $0.611 and $0.72, showcasing a strong upward trend in the price.

Pudgy Penguins

Pudgy Penguins (PENGU) became the third top gainer for today, with an 8% increase in the last 24 hours, trading at $0.033. The price surge comes after a remarkable 500% rise following the announcement of its listing on Binance.

Top Crypto Losers Prices Today

dogwifhat

The dogwifhat (WIF) became the worst performer with a 14% drop in the last 24 hours, now trading at $2.26. Its 24-hour low and high were $2.162 and $2.698, indicating significant volatility in the price movement.

Floki

Floki (FLOKI) became the second-worst performer for today, with a 13% drop in the last 24 hours, trading at $0.00019. Meme coins have crashed hard following Bitcoin’s fall below the $100K mark, impacting FLOKI’s price and the overall market sentiment.

Theta Network

Theta Network (THETA) price was down by 12% in the last 24 hours, trading at $2.32. Its 24-hour low and high ranged from $2.18 to $2.61, reflecting the broader market downturn.

Beside this, the hourly chart is showing a positive momentum with BTC up by half a percent in the last hour. Major altcoins like ETH, XRP, and BNB are up by 1%. In the cryptocurrency market today, despite the recent fluctuations, there’s a shift towards optimism in the short term.

The post Cryptocurrency Market Today Dec 19: BTC Falls Below $100K, Altcoins Crash After Fed Rate Cut appeared first on CoinGape.

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Filed under: News - @ December 19, 2024 4:21 am