Bitcoin, Ethereum, XRP Plunge Over 6% Each, Dogecoin Drowns 14% On Turbulent Post-FOMC Thursday
By Benzinga
Cryptocurrency markets are trading lower on Thursday, with Bitcoin falling below the $100,000 mark following Wednesday’s Fed meeting.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin (CRYPTO: BTC) | $97,083.43 | -5.7% |
| Ethereum (CRYPTO: ETH) | $3,377.75 | -9.3% |
| Solana (CRYPTO: SOL) | $192.61 | -8.3% |
| XRP (CRYPTO: XRP) | $2.21 | -6.5% |
| Dogecoin (CRYPTO: DOGE) | $0.312 | -14.1% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002161 | -12% |
Notable Statistics:
- IntoTheBlock data shows large transaction volume decreasing by 7.4%; daily active addresses remained relatively flat. Transactions greater than $100,000 are down from 14,557 to 13,516 in a single day. Exchanges netflows are down by 4.09%.
- Coinglass data reports 368,308 traders were liquidated in the past 24 hours for $1.19 billion, the most ;ong liquidations since Dec.10.
- Crypto chart analyst Ali Martinez noted whales purchased $1 billion worth BTC during recent market dip.
Notable Developments:
- Crypto Wallet Provider Exodus Makes Wall Street Debut, Shares Pop 37%
- Germany’s Largest Bank Is Reportedly Leveraging Ethereum-Based Blockchain Solution To Overcome Regulatory Hurdles: Here’s How
- Bitfinex Hacker Of ‘Biggest Heist Ever’ Documentary Takes Responsibility—But His Wife Has Other Ideas
- Stablecoins Can Redefine Global Finance, VanEck CEO Says: Are Banks Falling Behind?
- Bitcoin ETFs Rise In Pre Market Despite Jerome Powell Says Fed Cannot Hold BTC: What’s Going On?
Top Losers:
| Cryptocurrency | Price | Gains +/- |
| Pudgy Penguins (CRYPTO: PENGU) | $0.02763 | -24.5% |
| Virtuals Protocol (CRYPTO: VIRTUAL) | $2.18 | -19.6% |
| Lido DAO (CRYPTO: DAO) | $1.57 | -18.2% |
Trader Notes: Bitcoin’s price has dropped below the $100,000 mark, and several crypto traders are offering their insights. Altcoin Sherpa predicts a short-term bottom soon and suggests bidding at $94,000 if the price hits that level.
Crypto trader Flow believes the market’s opportunity is closing quickly, signaling a potential deeper shift rather than a temporary blip.
While a Santa Claus rally could occur into January 2025, it should be seen as a chance to evaluate strength rather than blindly positioning.
Many trades have been influenced by Trump-related factors, and the post-inauguration period will reveal how well those promises hold up and how the market reacts to shifting narratives.
Analyst Ali Martinez points out key support levels between $98,830 and $95,830, where 1.09 million wallets hold more than 1.16 million BTC.
More Crypto Online highlights the recent low in Bitcoin as increasing the likelihood of a move toward $85,000, which could mark the final correction before a concluding bull market rally, though confirmation depends on the structure of the next relief rally.
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Image: Shutterstock
