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Crypto News Today (Dec 20, 2024): Bitcoin Falls to $96k as Market Stumbles
December 20, 2024 – The market is experiencing a significant downturn, with Bitcoin’s price plummeting to $96k. This is the second time this week that BTC has faced such a steep decline.
In recent days, Bitcoin has struggled to maintain its upward momentum, following the Federal Reserve’s (FED) announcement regarding rate cuts. As a result of this uncertainty and short-term volatility, the trading volume has taken a hit, dropping by 0.54% in the last 24 hours.
Bitcoin ETFs have also been affected, with $671 million worth of outflows recorded in the same period. This significant sell-off is not only concerning for Bitcoin but also has a ripple effect on the entire crypto market.
The performance of other cryptocurrencies has followed suit, with Ethereum (ETH) experiencing a substantial decline of 8.18% in the last 24 hours. Solana’s SOL token dropped by 7.67%, while XRP plummeted by a lesser extent, falling just 2.7%.
However, amidst this chaos, there are some altcoins that have buckled under pressure. The MOVE token has defied the odds to rise by an astonishing 10.93% in the past 24 hours. This incredible growth could be attributed to the innovative blockchain technology behind it.
Despite the market’s current turmoil, some experts believe that this downturn is merely a correction before Bitcoin and other cryptocurrencies rebound. As always, the crypto space remains highly speculative, and only time will tell how these trends play out.
**Bitcoin Price:** $96,819.6
Source: coinpedia.org
