Bitcoin, Ethereum, XRP, Dogecoin Plummet Despite Anticipated 25 Basis Point Rate Cut
Posted On December 18, 2024
Cryptocurrency markets are trading lower on Wednesday despite the Federal Reserve announcing a 0.25% rate cut in its latest FOMC meet.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin (CRYPTO: BTC) | $102,173.74 | -3.9% |
| Ethereum (CRYPTO: ETH) | $3,714.81 | -5.5% |
| Solana (CRYPTO: SOL) | $210.29 | -7.3% |
| XRP (CRYPTO: XRP) | $2.36 | -9.3% |
| Dogecoin (CRYPTO: DOGE) | $0.3654 | -8.4% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002458 | -8.2% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 3.4% and daily active addresses falling by 12.8%. Transactions greater than $100,000 are down from 16,509 to 14,557 in a single day. Exchanges netflows are up by 94%.
- Coinglass data reports 148,690 traders were liquidated in the past 24 hours for $367.69 million.
- Crypto chart analyst Ali Martinez noted that in last three FOMC meetings, BTC dominance dropped and altcoins rebounded. He is curious to see what happens now.
Notable Developments:
About The Author
