Crypto Price Today: Bitcoin down by over 1% as consolidation continues. Altcoins Etherium, XRP, Solana gain up to 7%
Bitcoin slipped below the $95,000 mark on Tuesday and was trading at $94,035.31 around 1 pm India time, going down by 1.3% over the past 24 hours. After a cracking rally following President-elect Donald Trump’s re-election, BTC has been in consolidation mode and has corrected by 13% from its all-time high of $108,268.45.
However, most major altcoins were trading positively around this time with gainers including Ethereum (ETH), XRP, BNB, Solana, Dogecoin, Cardano, Shiba Inu, Toncoin and Avalanche. They were higher by up to 7% around this time. Tether was flat though the bias was negative.
The weakness in crypto assets has been on account of the hawkish Federal Reserve commentary which has hinted at a shallower rate cut in 2025. In its December monetary policy announcements, the Central Bank said that its 2% inflation target was unlikely to be achieved in the coming year.
Avinash Shekhar, Co-Founder & CEO at Pi42 acknowledged the resilience shown by the BTC amid the current volatility. «Bitcoin shows resilience in this volatile market, gathering inflows totaling $375 million this week despite witnessing an 11.8% fall in price over the week. Having fallen from its all-time high of $108,135 to around $93,878, BTC faced the pressure of
