Deep Tide TechFlow News, on December 19, according to SoSoValue data, the cryptocurrency market sector experienced a widespread decline, with nearly half of the sectors falling more than 10%. Specifically, BTC and ETH dropped by 5.14% and 6.11% respectively in 24H. The CeFi sector fell by 5.17%, while the NFT sector, which rose over 20% yesterday, dropped by 6.01%. Additionally, the Layer 1 sector declined by 8.14%, the Layer 2 sector by 9.37%, the DeFi sector by 10.55%, the Meme sector by 11.33%, and the DePIN and PayFi sectors fell by 11.48% and 11.69% respectively. Despite the overall market decline, some projects performed well, such as the NFT sector Pudgy Penguins (Pengu) which rose by 9.54%, Moca Coin (MOCA) which rose by 10.25%, and within AI Agents, AI Rig Complex (ARC) which rose by 54.22%.
Regarding the reasons for the widespread decline and adjustment in the cryptocurrency market sector, SoSoValue analysts indicated that it may be affected by today's latest Federal Reserve meeting on interest rates, adjusting the pace of rate cuts for next year (from 4 times to 2 times), the upward revision of future core PCE inflation rates and GDP growth rates, as well as Powell's more hawkish statements than the market expected, which created panic in market liquidity expectations, leading to the widespread decline in the cryptocurrency market sector.
