December 30 Cryptocurrency Market Update: Bitcoin Hits Monthly Low, Altcoins Under Pressure

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Bitcoin fell to $93,400 today, marking a monthly low, with trading volume surging 40% to $32 billion. Meanwhile, FTX Token (FTT) rose by 10%, while BGB fell by 20%, with a trading volume of $1.34 billion.

Market Overview

The global cryptocurrency market continued to face pressure today, with the overall market cap declining 1.5% to $3.29 trillion, but trading volume increased by 12% to $90 billion. Major asset performances are as follows:

Bitcoin (BTC)

Price: $93,400

Change: Down 1.3%

Trading Volume: Surged 40% to $32 billion

Price Range: $93,079 - $95,341

Ethereum (ETH)

Price: Up 1%

Market Performance: Stronger performance in an overall sluggish market.

FTX Token (FTT)

Price: Up 10%

Background: FTX announced it will start processing claims on January 3, 2025, expecting to repay $16 billion in cash.

BGB Token

Price: Down 20%

Trading Volume: Jumped to $1.34 billion, reflecting market sell-off pressure.

Market Dynamics and Regulatory Focus

Tether (USDT) Compliance Issues

Tether faces pressure from the European MiCA regulations, and if it does not comply, it may be delisted from European exchanges after December 30, increasing market uncertainty.

Institutional Fund Inflows

Bitcoin ETFs recorded an inflow of $387 million last week, indicating a resurgence of institutional interest.

Sustainability Progress

Bitcoin's clean energy usage rate has exceeded 50%, a development that may aid its long-term growth.

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