Crypto Market Sell-off as Fed Signals Fewer Rate Cuts

The cryptocurrency sector valuation declined 4% on Wednesday, dropping toward $3.8 trillion. While Bitcoin price dipped 2% to consolidate around the $104,600 mark, top altcoins like XRP, AVAX, and SOL suffered excess of 5% losses on the day. The sell-the-news frenzy comes as the Fed projects fewer rate cuts in 2025. As the US central bank’s governors on Wednesday projected fewer rate cuts in 2025, crypto traders opted to take profits off the table.

This effectively ended a week-long rally that has seen Bitcoin (BTC), Ripple (XRP), and Avalanche (AVAX) all score double-digit gains since December 10. According to data aggregated by Coingecko, the global crypto market capitalization declined 4.2% on Wednesday, reflecting a sector wide sell-off after the US Fed cut its main policy rate by 25 basis points but projected fewer cuts next year. XRP price dipped 5.2%, tumbling under the $2.50 mark as market euphoria peaked after the RLUSD stablecoin’s official launch on December 17. Solana (SOL) price also declined by 5% before finding support around the $215 level. Avalanche traders also booked profits on Wednesday, sparking a 5.6% price retracement before settling at the $47 level. Chart of the day: Bitcoin traders maintain positive outlook despite Fed Jitters As the US Fed meeting kicked off on Tuesday, the market had priced in a 25-basis-point rate cut, which has come to pass. Widespread anxiety around this major market event had already triggered a 4.2% outflow from the global crypto sector valuation over the last 24 hours. However, market data suggests the majority of speculative traders still maintain a positive outlook on Bitcoin’s short-term price prospect

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Toncoin (TON) Surges 80% in Whale Activity Amid $405 Million Market Sell-offCrypto market sees sell-off ahead of Fed's rate decision
La source: Utoday_en - 🏆 295. / 63 Lire la suite »

Fed Hints at Gradual Rate Cuts: Crypto Market RespondsMarkets reacting to Fed's November meeting minutes
La source: Utoday_en - 🏆 295. / 63 Lire la suite »

Crypto Market Awaits Fed Decision, Powell's Statement; What to ExpectMarkets will look to Fed's updated policy statement and Fed Chair Jerome Powell's press conference
La source: Utoday_en - 🏆 295. / 63 Lire la suite »

US Inflation Rises Again, Could Hawkish Fed Pivot Curb Crypto Bull Market?Crypto Blog
La source: Crypto_Potato - 🏆 568. / 51 Lire la suite »

Crypto market sees slight losses as South Korean market plunges following emergency martial law declarationBitcoin (BTC) and the cryptocurrency market experienced minor declines on Tuesday, primarily due to political issues in South Korea, which introduced fear, uncertainty and doubt (FUD) among investors.
La source: FXStreetNews - 🏆 14. / 72 Lire la suite »

Crypto Market Cap Slumped by $300 Billion Amid BTC, Altcoin Massacre: Market WatchCrypto Blog
La source: Crypto_Potato - 🏆 568. / 51 Lire la suite »