NEWS Today, January 8, 2025, the cryptocurrency market experienced a significant decline. Here are some of the latest price data for major crypto assets:
Bitcoin (BTC): The price is $95,066.0, with a change of -$5,641.0 (-5.60%) from the previous close. The intraday high is $100,975.0, and the intraday low is $94,547.0.
Ethereum (ETH): The price is $3,351.83, with a change of -$283.98 (-7.81%) from the previous close. The intraday high is $3,645.6, and the intraday low is $3,307.45.
BNB (BNB): The price is $696.57, with a change of -$27.83 (-3.84%) from the previous close. The intraday high is $726.44, and the intraday low is $683.14.
XRP (XRP): The price is $2.32, with a change of -$0.10 (-4.13%) from the previous close. The intraday high is $2.44, and the intraday low is $2.27.
Cardano (ADA): The price is $0.985, with a change of -$0.145 (-12.80%) from the previous close. The intraday high is $1.14, and the intraday low is $0.965.
This decline is influenced by a sharp spike in the 10-year US Treasury yield. On January 7, 2025, the Institute for Supply Management (ISM) released a report showing that the private sector's Purchasing Managers’ Index (PMI) for December stood at 54.1, higher than November's 52.1. This data raised inflation concerns, negatively impacting the US equity market and the cryptocurrency market.
In the last 24 hours, the total crypto market capitalization dropped by $227 billion, leaving it at $3.28 trillion. This marks a crucial support level that must hold to prevent a deeper market decline.
Amid this downturn, several altcoins also suffered sharp losses. Ethereum fell by about 8%, Solana dropped by 8%, Dogecoin plunged by 10%, and Cardano lost 12% of its value.
This situation highlights the persistent volatility that continues to test the resilience of the crypto market. Investors are advised to remain vigilant and monitor market developments as well as macroeconomic factors that could influence digital asset price movements.
