Crypto Price Today: Bitcoin flat amid selling pressure near $1 lakh mark. Altcoins Ethereum, XRP, Solana fall by up to 5%
Selling pressure at higher levels marred the prospects for most crypto assets on Thursday including Bitcoin (BTC), which was trading with minor declines. Around 1:15 pm, it was trading at $97,882.44, down by 0.07.
Most major altcoins were trading with a negative bias around this time including Ethereum ($ETH ), Tether, XRP, Solana, Dogecoin, Cardano, Tron, Shiba Inu, Toncoin and Avalanche. They were lower by up to 5.5% around this time. However, Tron and BNB were trading in the green and were up by 0.16% and 0.73%, respectively.
Cryptocurrencies have been in the consolidation mode after a cracking rally following President-elect Donald Trump’s re-election. BTC has corrected by 10% from its all-time high of $108,268.45.
The weakness in crypto assets has been on account of the hawkish Federal Reserve commentary which has hinted at a shallower rate cut in 2025. In its December monetary policy announcements, the Central Bank said that its 2% inflation target was unlikely to be achieved in the coming year.
A CoinSwitch Markets Desk data suggested $BTC s December gains standing at 2% with selling pressure remaining prevalent at higher levels. Despite sharp volatility, Bitcoin derivatives remain neutral-to-bullish, signaling steady sentiment, it said.
"Its 64% correlation with the S&P 500 ties its fate to broader economic concerns. Ether ETFs saw $2.5B inflows despite a 10% price dip and resistance at $3,500. Institutions like VanEck predict a $6,000 peak by 2025, underscoring long-term confidence. The Fed now expects only two rate cuts in 2025, easing short-term fears for corporate earnings. Meanwhile, Turkey tightens crypto oversight, requiring ID verification for transactions above $425. Crypto markets balance optimism and caution, wit ..
Meanwhile, Ethereum's key support lies above $3,400 which is showing stability and a break above this level can show bullish momentum up to $4,094, reaffirming its strength as a major altcoin, Shekhar added.
"$XRP 's symmetric triangle pattern reveals a lack of market resolution, but bulls are pushing it to recover. Stronger liquidity and ETF outflows may dampen short-term action, but the broader outlook remains positive for the crypto market as the traditional markets stabilize and digital