Crypto Price Today: Bitcoin flat amid selling pressure near $1 lakh mark. Altcoins Ethereum, XRP, Solana fall by up to 5%
crypto assets on Thursday including Bitcoin (BTC), which was trading with minor declines. Around 1:15 pm, it was trading at $97,882.44, down by 0.07.
Most major altcoins were trading with a negative bias around this time including Ethereum (ETH), Tether, XRP, Solana, Dogecoin, Cardano, Tron, Shiba Inu, Toncoin and Avalanche. They were lower by up to 5.5% around this time. However, Tron and BNB were trading in the green and were up by 0.16% and 0.73%, respectively.
Cryptocurrencies have been in the consolidation mode after a cracking rally following President-elect Donald Trump’s re-election. BTC has corrected by 10% from its all-time high of $108,268.45.
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.
A CoinSwitch Markets Desk data suggested BTC's December gains standing at 2% with selling pressure remaining prevalent at higher levels. Despite sharp volatility, Bitcoin derivatives remain neutral-to-bullish, signaling steady sentiment, it said.
Did you Know?
The world of cryptocurrencies is
Read more on economictimes.indiatimes.com
