Crypto Market Today: Bitcoin and Ethereum Dip, Altcoins Display Mixed Momentum
Highlights
- Bitcoin (BTC) was trading at $94,327, down 2%, with a 24-hour range between $93,440 and $97,429.
- Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) showed slight declines, while BONK saw a 4% rise.
- Bitget Token (BGB) surged 9% after announcing an $800 million token burn, boosting market sentiment.
The crypto market today is in a cool-off phase as the holiday season unfolds. Bitcoin (BTC) and Ethereum (ETH) have declined, with BTC dropping below $95K and ETH falling to the $3,300 range. Bitcoin has remained between $94K and $108K for over a month, while top altcoins show bearish momentum, with most losing 1% to 5% in the past 24 hours.
The overall market cap has also dropped by approximately 2%, now at 3.28 trillion. Trading volume has seen a significant decline of 34%, as many investors are in a holiday mood and enjoying the last days of 2024. Market activity is expected to pick up after the first week of January when trading volume will likely return to normal levels. The Fear and Greed Index is currently at 51, indicating a neutral sentiment in the market.
Crypto Market Today: BTC, ETH, XRP, and SOL Prices Drop
Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) have faced significant declines, mirroring the overall market downturn. The holiday season slowdown continues to impact trading volumes and prices.
Bitcoin Market Today
Bitcoin (BTC) price was trading at $94,327, down approximately 2% over the last 24 hours. Its 24-hour low and high were $93,440 and $97,429, respectively. Robert Kiyosaki has made a bold prediction, forecasting that Bitcoin will reach $350,000 by 2025 and urging investors to prioritize self-custody over institutional ETFs.
According to SoSo Value, BTC ETFs saw a total outflow of $297 million, with Fidelity accounting for $208 million. Ark & 21Shares reported an outflow of $112 million. However, BlackRock purchased $79 million worth of Bitcoin ETFs after two days of selling.
Ethereum Market Today
Ethereum (ETH) price dropped by about 1%, now at $3,329, with a 24-hour low of $3,307 and a high of $3,441. The ETH ETF saw an inflow of $27 million yesterday, as Fidelity purchased $27 million worth of Ethereum. This shift in the crypto market today highlights the growing institutional interest in Ethereum.
XRP Market Today
XRP price was trading at $2.144 at the time of writing, down by approximately 2%. Its 24-hour low and high were $2.126 and $2.234, respectively. Pro-XRP lawyer John Deaton has criticized a newly finalized crypto tax reporting rule issued by the Biden administration.
Solana Market Today
Solana (SOL) price was down by 2%, trading at $184. Its 24-hour low and high were $183 and $194, respectively. Coingape analysts reported the reason behind the Solana price dump.
Meme Cryptocurrency Market Today
Meme cryptocurrency market today is following the pattern of top altcoins. Dogecoin (DOGE) was down by 1%, trading at $0.3142, while Shiba Inu (SHIB) dropped by just half a percent in the last 24 hours. BONK, however, saw a 4% increase, with the “BURNmas” event contributing to the burn of over 1 trillion coins.
Crypto Market Gainers Today
Virtual Protocol
Virtual Protocol (VIRTUAL) became the top gainer today, with its price jumping by 15% in the last 24 hours. Its 24-hour low and high were $3.05 and $3.58, respectively. Coingape analysts also reported the top cryptos to invest in for 2025.
Bitget Token
Bitget Token (BGB) price was up by 9% in the last 24 hours, trading at $8.36. The rise in price is mainly due to Bitget revealing plans for an $800 million token burn in the future. This development is affecting the crypto market today, driving positive momentum for Bitget Token.
Crypto Market Losers Today
FTX Token
FTX Token (FTT) price was down by 16%, making it the worst-performing crypto in the last 24 hours. Its 24-hour low and high were $3.27 and $3.93, respectively. This decline reflects the challenges faced by FTX in the crypto market today.
Zcash
Zcash (ZEC) was down by 10%, trading at $61.72. Its 24-hour low and high were $61.61 and $68.92, respectively. This drop reflects the volatility in the crypto market today.
Also one of the famous crypto exchange will delist Ripple’s XRP and Litecoin (LTC) expiry futures today.
Meanwhile, there has been no significant improvement in the hourly chart or major price changes in top altcoins and Bitcoin over the last hour. Significant market movements in the crypto market today are expected next week, once the holiday period concludes.
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