Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ALTCOIN NEWS»Bitcoin decline leads to overall cryptocurrency market correction
ALTCOIN NEWS

Bitcoin decline leads to overall cryptocurrency market correction

By Crypto FlexsDecember 20, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin decline leads to overall cryptocurrency market correction
Share
Facebook Twitter LinkedIn Pinterest Email

Cryptocurrency prices soared, with major coins such as Dogecoin (DOGE), Solana (SOL), Cardano (ADA), and Ethereum (ETH) leading the losses amid a widespread market sell-off triggered by the Federal Reserve’s latest economic outlook. It crashed this Friday night.

Jump into cryptocurrency price adjustment

Bitcoin and other major cryptocurrencies have given up significant recent gains as markets continue to adjust following the Federal Reserve’s updated economic outlook.

Bitcoin (BTC) fell to $95,875 on Friday, down sharply from Tuesday’s high of $108,268. The top cryptocurrency fell 4.6% in the last 24 hours, but several other high-value cryptocurrencies recorded much steeper losses.

Dogecoin (DOGE), the top meme cryptocurrency, had the steepest decline, down 15% to $0.3066, according to CoinMarketCap data. This is a 34% decline from the 2024 high of $0.47.

The price of Dogecoin fell 15% on Friday night. Source: CMC

Solana (SOL) is down nearly 13% and is currently trading at $182, while Cardano (ADA) is down 12.3% and is currently trading at $0.85. Ethereum (ETH) has also fallen nearly 10% over the past 24 hours and is currently trading at $3,297.

The market correction caused the overall cryptocurrency market value to decline by 6.75%, reaching $3.28 trillion. According to CoinGlass data, $1.17 billion was liquidated from long and short positions in the last 24 hours, with Bitcoin leading the liquidation at $241 million.

The steep market losses come after Fed Chairman Jerome Powell’s announcement sent shockwaves through financial markets as he highlighted expectations of higher-than-expected inflation and rising unemployment in 2025.

The Federal Reserve cut interest rates by 0.25% but took a more cautious stance, unnerving investors by signaling that there would be no further cuts soon.

Mr. Powell acknowledged that inflation had made some progress, but slower than expected. The Fed’s updated forecast predicts just two rate cuts in 2025, up from the three previously expected.

On the flip side:

  • The cryptocurrency market is maintaining a bullish trend, with prices rising to relatively high levels. Corrections during bull markets are normal and healthy and often provide buying opportunities.
  • US President-elect Donald Trump has pledged to establish Bitcoin reserves and create a supportive regulatory environment for the cryptocurrency, paving the way for more capital to flow into the market.

Why This Matters

These market corrections highlight the ongoing volatility in the cryptocurrency space, which is influenced by broader economic factors such as inflation and the Federal Reserve’s stance on interest rates. However, it also highlights the resilience of the cryptocurrency market, with healthy corrections providing potential opportunities for investors.

Check out DailyCoin’s trending topics:

Bitcoin hits record high as Trump and MicroStrategy strengthen market momentum.

Sonic and Injective team up for Solana’s first cross-chain smart agent hub

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

$ 438m XRP Transfer Sparks Panic- Ripple?

June 19, 2025

Solana Price Eyes 103% Rally $ 300: Here is the reason.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Move to JIT-EVM on Ethereum | Ethereum Foundation Blog

April 12, 2024

Celsius’ multibillion-dollar Ethereum move has sparked speculation about a creditor recovery plan.

January 26, 2024

Bitcoin Core – I need help transferring my wallet

April 30, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.