$BTC $ETH As of January 8, 2025, Bitcoin (BTC) is trading at approximately $93,137, reflecting a 4.1% decrease from the previous close. Ethereum (ETH) is priced around $3,224.97, down 6.5% over the same period.
Recent U.S. labor market data has influenced these declines. Stronger-than-expected employment figures have reduced the likelihood of Federal Reserve interest rate cuts, impacting risk-on assets like cryptocurrencies. Bitcoin fell to $97,000 after peaking at nearly $103,000, marking its first time above $100,000 in three weeks. Ethereum also saw a decline, with ether down 8% within 24 hours.
Despite these short-term fluctuations, the broader cryptocurrency market has experienced significant growth. In 2024, Bitcoin rose by 119.6%, reaching record prices above $100,000. Ethereum surpassed the $4,000 mark, driven by strong technical indicators and substantial institutional inflows into Ethereum-focused exchange-traded funds (ETFs).
The recent
