Today, the crypto market in general was under pressure as the Bitcoin (BTC) price approached its monthly lows. Altcoins also continued to decline, reinforcing the general downtrend in the crypto market. Tether (USDT), the largest stablecoin by market cap, is at risk of being delisted from European exchanges due to its failure to comply with the new Markets in Crypto Assets (MiCA) regulations. The compliance process, which is due by December 30, 2024, continues to create uncertainty among market participants. On the other hand, FTX Token (FTT) stood out as the biggest gainer of the day with a price increase of 7%. Here is a brief look at the prices of some of the leading cryptocurrencies by market cap as of December 30.
Bitcoin Price Below $94,000
Crypto prices witnessed Bitcoin (BTC) fall sharply today, falling below $94,000. Michael Saylor caught the attention of investors by hinting that he plans to buy more Bitcoin with his latest post on the X platform. Ethereum (ETH) was the only coin to remain in the green, recording a 1% increase despite the general market decline. Bitcoin was trading at $93,400, down 1.3% in the last 24 hours. The lowest and highest levels of the 24-hour period were $93,079 and $95,341, respectively. Despite this, trading volume increased by 40% to $32 billion. According to SoSo Value, the Bitcoin ETF recorded a weekly inflow of $387 million last week, indicating a revival of institutional interest.
In the past, Q4 has generally been a strong period for Bitcoin and altcoins. Experts are currently noting that a cooling period is typical after the mid-year halving. After previous halvings (2012, 2016, and 2020), Bitcoin saw significant rallies the following year. Additionally, external factors such as global liquidity and government actions continue to affect the market. In addition, uncertainties regarding Tether may also have an impact on the market.
Ethereum (ETH) is trading at $3,421, up 1% in the last 24 hours. The lowest and highest 24-hour prices were $3,327 and $3,434, respectively. Ethereum ETFs saw a weekly inflow of $349 million, behind Bitcoin ETFs. XRP is trading at $2.12, down about 3% in the last 24 hours. The lowest and highest 24-hour prices were $2,076 and $2,197, respectively. Solana (SOL) is trading at $192, down 1% in the last 24 hours.
Winners and Losers of the Day
FTX Token (FTT) rose 10% in the past 24 hours to $3.75. Ethena (ENA) is trading at $1, up 6%. KuCoin Token (KCS) and Virtuals Protocols (VIRTUAL) are also up 1% to 3% in the past 24 hours, indicating a positive trend amid market volatility.
On the other hand, BGB token was the biggest loser of the day with a 20% loss. The 24-hour low and high prices were $6.01 and $7.85 respectively, while the trading volume increased by 47% to $1.34 billion. PENGU price is down 10% and is currently trading at $0.032. The 24-hour low and high levels are $0.031 and $0.036 respectively. Movement (MOVE), OKB and Beam (BEAM) are also down around 5% in the last 24 hours.