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Reading: Sharp Fall in the Cryptocurrency Market! What Awaits Investors?
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EdaFace Newsfeed > Latest News > Crypto News > Sharp Fall in the Cryptocurrency Market! What Awaits Investors?
Crypto News

Sharp Fall in the Cryptocurrency Market! What Awaits Investors?

vitalclick
Last updated: January 10, 2025 8:18 am
2 weeks ago
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Contents
Market General SituationStatus of Important CryptocurrenciesThe Most Increasing and Decreasing CryptocurrenciesPerformance of Meme Cryptos

Bitcoin (BTC) in cryptocurrency markets today $93,505.3 and Ethereum (ETH), which are major altcoins $3,317.9 A downward trend was observed for XRP. While Bitcoin fell to the $92,000 level, ETH fell by approximately 2.51% and XRP by 3%. These declines come as markets await U.S. employment data, which is expected to be released today. A strong job market report could impact interest rate expectations, which could have additional impact on crypto valuations.

Market General Situation

Global crypto market cap fell approximately 1.68% to $3.25 trillion. Additionally, total transaction volume decreased by 11% to $155 billion. The Fear and Greed Index is at 43, indicating a neutral sentiment in the market.

Status of Important Cryptocurrencies

While Bitcoin (BTC) continues to trade at $93,433, the market cap of the largest cryptocurrency has fallen below the $2 trillion mark again and is now recorded at $1.85 trillion. Ethereum (ETH) is at $ 3,245 and decreased by 2.55% in 24 hours. XRP lost 3% of its value at $ 2.28. Solana (SOL) experienced a 4% decrease at $ 188.

The Most Increasing and Decreasing Cryptocurrencies

Kaia (KAIA), Litecoin are among the cryptocurrencies that increased the most in the last 24 hours. $103.1 (LTC) and BitTorrent (BTT). On the other hand, THORChain (RUNE), SPX6900 (SPX) and Bittensor (TAO) stand out among those that lost the most value. Dogecoin in meme cryptocurrencies $0.333852 Coins like (DOGE) and Shiba Inu (SHIB) have received mixed reactions.



Performance of Meme Cryptos

Meme cryptos had mixed reactions after Bitcoin hit the $92,000 level. Dogecoin (DOGE) was trading at $0.326, down nearly 4%, while Shiba Inu (SHIB) remained at the same price level. Other meme cryptos, PEPE, PENGU and BONK, have also fallen by around 4% in the last 24 hours.

Hourly charts reveal that Bitcoin and major altcoins have rebounded in recent hours, with AI16Z being the best-performing cryptocurrency, up 2% in the last hour.

Despite the fluctuations in the market, CleanSpark’s accumulation of over 10,000 BTC in its treasury shows the company’s resilience to market volatility. Ripple $2.3 Labs’ transfer of 300 million XRP to an anonymous wallet created concerns about a potential sales pressure in the market.

Overall, today’s declines in the cryptocurrency market are pushing investors to be cautious about US employment data and possible interest rate changes. Market participants are closely monitoring the impact of economic data on cryptocurrency valuations.

For investors who want to keep their finger on the pulse of the markets, global economic indicators and fluctuations in the performance of cryptocurrencies play an important role. Especially the movements of major cryptocurrencies can be decisive on the general market sentiment.

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.

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