Cryptocurrency markets experienced a significant decline on Wednesday. Bitcoin (BTC) $101,782.3 Its price showed a sharp decline, dropping from $102,000 to below the $97,000 level. It is stated that this decrease is due to the significant increase in US Treasury bond yields over the last decade. Additionally, the Institute for Supply Management’s (ISM) Private Sector Purchasing Managers Index (PMI) report for December reached 54.1, an increase from 52.1 in November, causing fluctuations in the market.
Increased Market Mobility
The global crypto market fell below the $3.38 trillion level, a decline of approximately 6%. However, trading volume increased by 27%, reaching $162 billion, as investors reacted to the market decline. This increase shows that the liquidity in the market is high and investors are actively changing positions.
Performance of Featured Altcoins
Ethereum (ETH) as well as Bitcoin 
$3,662.4Major altcoins such as , XRP, and Solana (SOL) also experienced significant declines. Ethereum price was down 8% from $3,383. Solana lost 8%, falling to $199. While the market value of XRP reached 134 billion dollars, there was a 3% decrease.
Unreasonable Drop in Meme Coins
Meme coins also fell, following the general market trend. dogecoin 
$0.394289 (DOGE) lost 10% and Shiba Inu (SHIB) lost 9%. Other meme coins PENGU, BONK and PEPE also decreased by 10-12% in the last 24 hours.
Ripple
$2.4 CEO Brad Garlinghouse stated that he will meet with former US President Donald Trump at Mar-a-Lago and that there may be future discussions on regulatory clarity issues.
The Most Gaining and Losing Cryptocurrencies
Among the top 100 cryptocurrencies, only Bitget Token (BGB) stood out with a 6% increase. On the other hand, Hyperliquid (HYPE) was among the worst performers, losing 15% and dYdX losing 13%.
Despite these recent fluctuations, it is important for investors to be careful in the crypto market and follow market trends well. Although high liquidity and increased transaction volume create opportunities, they also increase risks.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
