Crypto prices have experienced a decline due to poor US macroeconomic data and profit-taking. Bitcoin has dropped 1.8% to $91,800, falling more than 14% from its record high. Ether has fallen 0.7% to $3,320, while Solana is performing slightly better. The CoinDesk 20 index is down 3.74%, with Ripple and Stellar taking the biggest hits. Stocks of crypto-related companies, such as MicroStrategy and Coinbase, have also declined. The selling pressure is attributed to investors cashing out after bitcoin's significant increase this year. Macroeconomics, including the US Chicago PMI reading and uncertainty around the Federal Reserve's interest-rate policy, are also impacting the market.
- Content Editor ( coindesk.com )
- 2024-12-30
Bitcoin Drops to $92,000 as Long-Term Holders Keep Taking Profit