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Crypto Market Snapshot: $3.8T Cap Faces Headwinds as Major Coins Slip

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The cryptocurrency market is taking a breather today. The total market cap sits at $3.80 trillion, down 1.39% in the last 24 hours—nothing dramatic, but enough to signal some profit-taking after recent gains.

Where’s Bitcoin Headed?

BTC is the story worth watching. Trading between $107,925 and $113,644 over the past day, Bitcoin settled at $110,432 as of this morning (UTC), marking a 2.22% dip. That’s a decent pullback from yesterday’s highs, but still well above the $100k psychological level that had traders nervous just weeks ago.

The Mixed Bag

Most major cryptocurrencies are trading sideways-to-down:

Under pressure:

  • Ethereum (ETH): $3,905.63 (-2.29%)
  • XRP: $2.5708 (-2.14%)
  • Dogecoin (DOGE): $0.19012 (-1.51%)
  • ADA: $0.6364 (-0.80%)

BNB and Solana held relatively steady with minimal movement (-0.14% and -0.43% respectively).

The Bright Spots

Not everything’s red. A few altcoins are having their moment:

  • EUL surged 13%
  • SYRUP climbed 12%
  • ZEC gained 11%
  • LINK managed a small green candle at +1.23%

Meanwhile, WLFI took a hit with a 5.46% drop.

What’s Moving Markets?

The macro backdrop remains the real driver. Federal Reserve decisions on rate cuts continue to ripple through asset classes. December rate cut probabilities are being reassessed across financial markets, which is keeping crypto traders on edge. Meanwhile, institutional interest in crypto-native products is picking up—Grayscale’s new Solana Trust ETF hitting NYSE shows traditional finance is still dipping its toes into digital assets.

On the geopolitical front, Germany’s parliament is reviewing Bitcoin’s potential strategic recognition, a small but notable shift in government attitudes toward crypto.

The Takeaway

Nothing catastrophic happening here—just a normal consolidation day with the market digesting recent moves and waiting for clearer directional cues from the Fed.

BTC-0.23%
ETH1.39%
XRP1.55%
DOGE1.22%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
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