🔥🔥🔥 Crypto Market Update: Bitcoin Drops to Monthly Low, #altcoins Slide Further

#CryptoMarketUpdate : #bearish Sentiment Prevails

- Crypto prices remain under pressure as Bitcoin ($BTC ) nears its monthly low, dragging altcoins down. The global market cap declined by 1.5% to $3.29 trillion, while trading volume rose 12% to $90 billion.

Key Developments

- Regulations: Tether (USDT) risks removal from European exchanges due to MiCA non-compliance, with a December 2024 deadline.

- FTX Token (FTT): Gained 10%, trading at $3.75 after FTX announced claims processing from January 3, with $16B in repayments expected.

Top Cryptos Today

1. Bitcoin (BTC): Down 1.3% at $93,400; trading volume surged 40%. BTC ETFs saw $387M in weekly inflows, signaling institutional interest.

2. Ethereum (ETH): Up 1% at $3,421; concerns remain over potential sell pressure due to significant exchange inflows.

3. XRP: Dropped 3% to $2.12.

4. Solana (SOL): Down 1% to $192, with minor volatility.

Gainers

-FTX Token (FTT): Up 10%, showing strong momentum.

- Ethena (ENA): Gained 6%, with trading volume surging 45%.

- Other Gainers: KuCoin Token (KCS) and Virtuals Protocols (VIRTUAL) rose 1%-3%.

Market trends reflect caution as bearish pressures persist, with Bitcoin and altcoins trading near key levels.