Crypto News

As 2024 draws to a close, bitcoin (BTC) is underperforming, counter to its historical performance in a year-end "Santa rally."The largest cryptocurrency generally adds about 2.8% in the 51st week, this week it's on course to slide 11%. And, while it's tended to gain 3% in week 52, in five of the past six years the BTC price has dropped. So there's not much hope this time around either.The exact timing for what's considered a Santa rally varies, but it's clearly as December nears January and perhaps a few days either side.The trend extends to the whole quarter too. The fourth quarter tends to be one of bitcoin's strongest, but this year it's underperforming. Since 2013, the BTC price...

Altcoins have felt the sting, too. Ethereum was down 16% over a 24-hour period at one point, with XRP plunging 18% and Dogecoin 26%.Source link

PRESS RELEASE. Bitget, the leading cryptocurrency exchange and Web3 company, has announced a strategic collaboration with SunPump, the premier memecoin fair launch and trading platform on the TRON network. This partnership signifies a monumental stride in the development and expansion of TRON’s burgeoning memecoin ecosystem, unlocking a plethora of opportunities for groundbreaking projects and community-centricSource link

A broad crypto market slide worsened at the start of U.S. trading hours as bitcoin (BTC) neared the $93,000 level, leading to a fallback across all major tokens.Ether, Solana’s SOL, Cardano’s ADA, xrp (XRP) and bnb (BNB) fell as much as 16%, while memecoin dogecoin (DOGE) fell over 27%, data shows. Crypto market capitalization is down more than 11% in the past 24 hours, one of the worst single-day drops in the year.Some traders say a hawkish tone in this week’s FOMC meeting flipped market sentiment ahead of the new year.“The Fed rate cut itself was already expected and priced in as markets hinged on the Fed's outlook for next year, which was less optimistic than expected and included only...

“Investors are likely to start taking profits due to the uncertainty caused by the Fed's policy," an analyst predicted.Source link