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BTC Falls Below $96K, SHIB Up 13%, and XTZ Jumps 20%

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Today’s cryptocurrency market fueled global investor speculation as Bitcoin and major altcoins showed declining price movements. XRP climbed 6% among the top 10 coins, while Shiba Inu and Tezos posted impressive gains of 13% and 20%, respectively. Core (CORE) emerged as the top gainer today with a remarkable 28% surge.

The global crypto market cap increased by 0.35%, reaching $3.39 trillion. However, total market volume experienced a 9% decline, settling at $155 billion.

Here’s a brief overview of some leading cryptocurrencies by market cap and their prices today, December 1.

Cryptocurrency Market Today: BTC Drops, ETH Up 2%, and XRP Gains 5%

BTC price today tanked considerably, briefly touching $95,800. Meanwhile, ETH saw a 2% increase, and XRP gained between 5% and 6%. The market witnessed fluctuations, with Bitcoin’s decline contrasted with moderate growth in altcoins.

Bitcoin Price Today

BTC is currently trading at $96,200, with less than a 1% decline in the past 24 hours. Its 24-hour low and high are $95,770 and $97,264, respectively. The market cap is $1.9 trillion, with a trading volume of $32 billion in the last 24 hours. BTC’s market dominance is at 56.21%. It has been consistently trading within this range for the past 20 days.

Moreover, Anthony Pompliano recently discussed the risks of MicroStrategy’s Bitcoin strategy, emphasizing the regulatory uncertainty and potential extreme scenarios that could impact the company’s long-term approach to Bitcoin holdings.

Ethereum Price Today

ETH price is currently trading at $3,690, reflecting a 2% gain in the last 24 hours. Its 24-hour low and high are $3,621 and $3,739, respectively. The market cap is $444 billion, with a trading volume of $31 billion. ETH has risen by 8% in the past week, showing positive momentum.

Solana Price Today

In the cryptocurrency market today, SOL price has seen a 3% drop in the past 24 hours and is currently trading at $236. Its 24-hour low and high are $234 and $245, respectively. With a market cap of $112 billion and a trading volume of $4 billion, SOL holds a market dominance of 3.31%. It is the 4th largest cryptocurrency by market cap.

XRP Price Today

XRP price is trading at $1.89, marking a 6% jump in the last 24 hours. It is the biggest gainer among the top 10 coins by market cap. Recently, XRP’s market cap reached $100 billion, securing its position as the 5th largest cryptocurrency by market cap, surpassing BNB. Its 24-hour volume is $15 billion, with a low of $1.80 and a high of $1.954.

Meme Crypto Performance Today

Meanwhile, the cryptocurrency market today has shown a mixed reaction in the meme crypto sector. Dogecoin (DOGE) price is up by just 1%, currently trading at $0.425. On the other hand, Shiba Inu (SHIB) price surged 13% in the last 24 hours, now trading at $0.00002935. Other meme coins like PEPE, BONK, and WIF have dropped by 1% to 5% in the last 24 hours.

CoinGape analysts predict that Shiba Inu has the potential for continued growth. They expect further gains, depending on market conditions and investor sentiment.

Top Crypto Gainers Prices Today

Core

The cryptocurrency market today saw CORE as the top gainer, with its price currently trading at $1.79, reflecting a 28% increase in the last 24 hours. Its 24-hour low and high are $1.38 and $2.03, respectively, showing significant price fluctuations.

Theta Network

THETA price is trading at $2.86, reflecting a 25% increase in the last 24 hours. Its 24-hour low and high are $2.294 and $3.165, respectively. According to CoinGape analysts, technical analysts are optimistic about THETA’s potential for further gains. The chart provided by “World of Charts” indicates that a breakout from the descending triangle could lead to a rally targeting $9.00, representing a projected 348% surge from current levels.

Top Crypto Losers Prices Today

Peanut the Squirrel

PNUT price is trading at $1.15, with a 24-hour low of $1.13 and a high of $1.278. The coin has seen a 9% decline in the last 24 hours.

dogwifhat

WIF price is trading at $3.08, reflecting a 6% decline in the last 24 hours. Its 24-hour low and high are $3.06 and $3.30, respectively.

The hourly time frame charts continue to show a declining movement for BTC, ETH, and altcoins. This has raised further investor concerns over the cryptocurrency market today.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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How Will Donald Trump’s Tariff Plans Impact The Crypto Market?

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January 8, 2025

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President-elect Donald Trump is reportedly considering declaring a national economic emergency to implement a universal tariff program targeting allies and adversaries. These tariffs, potentially introduced under the International Economic Emergency Powers Act (IEEPA), will realign global trade balances. 

Meanwhile, Federal Reserve Governor Christopher Waller addressed concerns about inflation and the potential economic ramifications of such tariffs. This development raises questions about how these policies may influence the cryptocurrency market.

Donald Trump’s Tariff Strategy

As reported by CNN, President-elect Donald Trump is considering the International Economic Emergency Powers Act (IEEPA) to implement tariffs. The intended tariffs are to rebalance global trade while focusing on the manufacturing sector in the United States. Trump’s preference for IEEPA lies in its flexibility, allowing swift implementation without needing extensive national security justification.

Supporters of the tariffs argue they could rebuild American industrial capacity and strengthen the economy. However, the uncertainty surrounding the scope and execution of these tariffs could ripple through global financial markets. This may influence investor behavior in emerging sectors like the crypto market.

Donald Trump’s deputy assistant for International Economic Affairs, Kelly Ann Shaw, commented,

“I think the president has broad authority to impose tariffs for a variety of reasons, and there are a number of statutory bases to do so.”

Federal Reserve’s Perspective on Tariffs and Inflation

Concurrently, Federal Reserve Governor Christopher Waller has addressed the possible inflationary risks associated with Trump’s tariff proposals. Waller noted that while inflation stalled above the Fed’s 2% target in late 2024, he remains optimistic about a gradual decline in 2025. He added that increased tariffs are unlikely to cause persistent inflation, decoupling their potential effects from broader economic trends.

Waller stated, 

“I will support further cuts in 2025, but the pace will depend on further inflation progress. I don’t expect tariffs to have a significant impact on inflation.”

This will support financial markets, including cryptocurrencies, to improve liquidity and investment flow.

Implications of Tariffs on The Cryptocurrency Market

If the Fed cuts interest rates further, as expected by the market, then there is the possibility that more funds could flow into the crypto market for better returns. Usually, such rate cuts fuel risk-on sentiment, so assets such as crypto benefit from it.

However, Donald Trump’s tariff policies may create broader trade uncertainties. This may indirectly influence the crypto market through changes in global economic confidence.

Trade disruptions could lead to diminished faith in traditional financial systems, potentially encouraging a shift toward decentralized digital assets like Bitcoin and Ethereum. On the other hand, if tariffs introduce unforeseen inflationary pressures, the Federal Reserve might pause or reverse rate cuts, which could dampen optimism in the crypto market.

The Federal Reserve and broader economic concerns have been among the major reasons for the cryptocurrency market crash. Rising U.S. Treasury yields and a hawkish Fed stance have fueled risk-off sentiment, drawing capital away from cryptocurrencies. 

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Accurate Indicator Hints Bitcoin’s Top Is Near

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8 hours ago

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January 8, 2025

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Bitcoin is the most dominant cryptocurrency, and its performance alone is significant enough to signal the future of the entire market. Presently, BTC is under correction, but an accurate indicator confirms it is near the top. Let’s discuss the findings of the indicators and when the BTC price will hit the top.

Pi Cycle Indicators Predict the Bitcoin Price Top

The Pi Cycle indicator is an accurate indicator that successfully forecasts the Bitcoin price at the top. It has accurately predicted the top in 2013, 2017, and 2021; the next might be 2025. Pi cycle analysis depends on the 111-day moving average (111DMA) and 350-day moving average multiples by 2, where the intersection of these two moving averages predicts the cycle tops.

Now, after the ongoing BTC price struggle amid the crypto market crash, this tool hints at the top, keeping the investor’s confidence strong amid the crash. The crypto market signals that the BTC top will likely happen in the mid-to-end period of 2025. Although the timeline could vary, the historical result confirms the top formation within days of peak prediction.

Cryptocurrency Peak Prediction: BTC Top To Form on September 17, 2025

The latest Pi cycle top prediction reveals that the next crossover will occur on September 17, 2025, resulting in the BTC market peak. This BTC prediction for 2025 is based on its exponential growth ever since its formation, where the Pi chart indicator has forecasted the peak with 111 DMA and 350 DMAx2 coinciding on the charts on this date.

With high accuracy and historical proof, the next BTC top will form on September 17, but the exact value of the top is unclear for now. Some suggest it could cross six figures based on historical growth patterns, global adoption, and Donald Trump’s presidency.

Bitcoin price predictionBitcoin price prediction

What You Should Do?

The pi cycle indicator is a famous BTC top indicator that has accurately predicted the peak multiple times. Now, recent reports show that the BTC top will form on September 17, 2025, potentially pushing this digital asset’s price to six figures for the first time in history. Although the BTC price formed massive peaks with Donald Trump’s win, the consolidation frequency increased as Trump’s inauguration approaches.

The market crash has halted the Bitcoin price surge, currently trading at $95k. Arthur Hayes’s prediction hints at a market peak in March, but investors should stay cautious and conduct their own technical analysis before investing.

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With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BlackRock Bitcoin ETF (IBIT) Sees $597M In Inflow, Saves the Day

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11 hours ago

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January 8, 2025

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BlackRock’s iShares Bitcoin ETF (IBIT) recorded over $597 million in inflow on Tuesday. The BlackRock Bitcoin ETF saves the day for the bleeding crypto market after investors turned cautious with strong US JOLTS job openings and ISM Services PMI data.

The spot Bitcoin ETF in the United States saw a net inflow of $53.46. Bitcoin ETFs by Fidelity, Bitwise, Ark 21Shares, Franklin Templeton, and Grayscale recorded outflows.

BlackRock Bitcoin ETF Saw Inflow Despite Crypto Market Crash

BlackRock’s iShares Bitcoin ETF (IBIT) purchased 6,078 BTC worth $208.7 on January 7, while miners only mined 450 new BTCs. IBIT recorded an inflow of $597.18 million, as per Trader T data.

This makes the third consecutive inflow into IBIT despite a major selloff in the crypto market. Notably, US Bitcoin ETF saw an inflow of $978.6 million on Monday, sparking optimism as the flagship crypto soared past the $102K mark.

Meanwhile, Fidelity’s FBTC, Bitwise’s BITB, and Ark Invest’s ARKB saw outflow of $86.29 million, $113.85 million, and $212.55 million, respectively. Also, Franklin EZBC saw a $5.58 million in outflow.

Grayscale’s GBTC also witnessed an outflow of $125.45 million. Flows were zero for Invesco, Valkyrie, VanEck, and Grayscale Mini.

ImageImage

According to Farside Investors, the total net inflow for Bitcoin spot ETFs reached $52.4 million. The iShares Bitcoin Trust by BlackRock saw a net inflow of $596.1 million. Whereas, other ETFs experienced varying degrees of outflow.

Spot Bitcoin ETF InflowSpot Bitcoin ETF Inflow
Source: Farside Investors

Bitcoin and Crypto Market Crash On Macro Concerns

According to the U.S. Bureau of Labor Statistics, the JOLTS jobs openings increased by 259,000 to 8,098 million in November 2024, Also, ISM Services PMI came in higher than expected, which shows the resilience of the U.S. economy currently. This caused Bitcoin price to crash by more than 5%.

In fact, the US dollar index (DXY) holds its advance above 108.50 today, after a two-day low move that caused a recovery in Bitcoin price. Also, the 10-year US Treasury yield increased to a 35-week high of 4.68%. The strong US economic data reduced expectations for further rate cuts by the Federal Reserve.

Whereas, BTC price continues to fall despite better performance by BlackRock Bitcoin ETF. The price currently trades at $96,259. The 24-hour low and high are $96,132 and $102,022, respectively. Furthermore, the trading volume has decreased by 23% in the last 24 hours.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space.

At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as “Best Crypto Media Company 2024” for high impact and quality reporting.

Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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