In recent market developments, the cryptocurrency sector has experienced a notable decline. The overall market capitalization has contracted by 5.04%, reaching a value of $3.34 trillion. This downturn has also affected trading volumes, which have slightly decreased by 0.54% to $264.08 billion. Despite this backdrop, the Fear & Greed Index remains at 62, indicating prevailing “Greed” sentiments even amidst the market’s recent downturn.
Bitcoin ETF Outflows Surge as BTC Dips Below $97K
Bitcoin has been facing challenges in maintaining its upward momentum on the daily charts, particularly following the Federal Reserve’s recent announcement concerning interest rate cuts. The digital currency recorded a 24-hour low of $95,587.68 and is currently trading at $96,819.67. This downward trajectory is mirrored in the 24-hour trading volume, which has decreased by 3.52% to $93.85 billion. ETF outflows have been significant, with Bitcoin experiencing withdrawals amounting to $671 million on December 19th. For a more detailed outlook on Bitcoin’s future, delve into our Bitcoin Price Prediction.
Altcoins Update: ETH, SOL, and XRP Experience Declines
The recent market upheaval has also impacted altcoins. Ethereum has faced substantial losses, dropping by 8.18% to $3,368.56. Solana has similarly been affected, with a 7.67% decline, bringing its price to $193.61. XRP experienced a more moderate correction of 2.70%. For an in-depth analysis of Ethereum’s performance, refer to our Ethereum Price Prediction.
Top Gainers in the Crypto Market
- MOVE: $0.8242 (+10.93%)
- HBAR: $0.2786 (+2.01%)
- MNT: $1.16 (+0.41%)
Top Losers in the Crypto Market
- ENA: $0.9528 (-18.07%)
- VIRTUAL: $2.16 (-16.92%)
- BEAM: $0.02502 (-15.03%)
Frequently Asked Questions
As of the latest update, the price of 1 Bitcoin (BTC) is $96,819.6.
Which tokens are the top gainers today?
The top gainers today include MOVE token (+10.93%), HBAR (+2.01%), and MNT (+0.41%).
How has Ethereum (ETH) performed today?
Ethereum (ETH) has witnessed a significant decline of 8.18% over the past 24 hours, with its current trading price at $3,368.56.
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