Crypto Price Today: Bitcoin drops 2.5% amid pullback in altcoins. Ethereum, XRP, Solana fall by up to 4%
Bitcoin was trading with a negative bias on Friday amid selling pressure near the resistance of $1,00,000. AT 1:15 am, it was trading at $95,343.50, higher by 2.51%. Most major altcoins were trading with a negative bias around this time including Ethereum (ETH), Tether, XRP, BNB, Solana, Dogecoin, Cardano, Tron, Shiba Inu, Toncoin and Avalanche. They were lower by up to 4% around this time.
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.
Crypto currencies have been in the consolidation mode after a cracking rally following President elect Donald Trump’s re-election. IT has corrected by 10% from its all time high of $108,268.45.
Commenting on the action, expert Avinash Shekhar, who is Co-Founder & CEO of Pi42 said that Bitcoin's recent struggle to break past the $100,000 mark, combined with the sharp pullback across altcoins, underscores the ongoing volatility in the crypto market.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds.
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