The post Bitcoin Plunged Hard Ahead of FOMC Minutes—Why Crypto Market is Down Today? appeared first on Coinpedia Fintech News The Bitcoin price dropped hard, close to $96,000, driving the market below its support levels. As BTC price faced a 5.46% plunge, Ethereum price marked an 8.97% drop, trading at $3,348 while XRP & SOL recorded 4.25% & 9.12% loss, respectively. Dogecoin & Cardano also faced massive pullbacks of over 10% & 9%, with the other altcoins marking a similar pullback. The global trading volume has reached above $170 billion with a rise of over 33.12%, while the market capitalisation dropped to $3.36 trillion, a 6.38% squeeze. What went wrong? Why are crypto markets plunging hard? Two prominent events are scheduled for a short while now: ADP Nonfarm Employment and the FOMC minutes. While ADP is a sneak peek into the labour market’s health, setting the tone before the big reveal, the FOMC minutes dive into the minds of the Fed. It sheds light on their perspective about the rates that will have an impact on the BTC price. What’s next for the BTC price and the entire market? Considering the liquidations, they have again reached the peak of around $558 million in long, with Bitcoin alone recording close to $100 million. However, the pressure has not waned yet as the tokens continue to face equally for either side. The above liquidation heatmap by Coinglass suggests the bears are setting up shorts at interesting levels. If the Bitcoin price rebounds to $98,600, then over $35 million will be liquidated, and if it further reclaims levels above $103,300, then more than $66 million will receive the same fate. In short, the traders still appear to be either pessimistic or are unsure of the sustainability of the start token. However, the volatility rollercoaster is always good to maintain a healthy trend and hence, a potential drop is expected to attract significant volume onto the platform. The start of 2025 has been recorded as one of the most bullish one’s in recent history, with Bitcoin, Ethereum, & other altcoins managing to hold above the pivotal range. Regardless of the corrections, some of the altcoins, like XRP, XLM, BNB, etc., and a few more are demonstrating strength, suggesting a rebound could be nearby. Meanwhile, the BTC dominance continues to remain within daire straits, which indicates a potential altseason may also be on the horizon.
Cryptocurrency markets faced a drastic decline on Wednesday. Bitcoin fell significantly, dropping below $97,000. Continue Reading: Market Plummets as Bitcoin and Altcoins Face Significant Losses The post Market Plummets as Bitcoin and Altcoins Face Significant Losses appeared first on COINTURK NEWS .
According to recent data from the Binance trading platform, a few cryptocurrencies have shown positive price movements over the last 24 hours. Notably, FIRO, STPT, and STEEM are among the
Ripple’s CEO Brad Garlinghouse posted a photo on X revealing that he recently met U.S. President-elect Donald Trump at his Mar-a-Lago estate in Florida. The photo also revealed that Ripple’s CLO Stuart Alderoty accompanied Garlinghouse. President-elect Donald Trump met with Ripple’s CEO Brad Garlinghouse at his Mar-a-Lago estate in Florida on 8th January. The two were also joined by Ripple’s Chief Legal Officer Stuart Alderoty. Ripple’s executives meet the US President-elect Donald Trump According to a photo shared by Brad Garlinghouse on X, Stuart Alderoty and Garlinghouse dined together with Donald Trump. Garlinghouse used the caption, “Strong start to 2025!” Although it is evident that the three met, the meeting details are still unclear, but could be more inclined towards crypto legislation. The meeting comes at a crucial time for Ripple, the eve of a critical deadline for the case between the U.S. regulator and the blockchain venture specializing in cross-border payments. Great dinner last night with @realDonaldTrump & @s_alderoty . Strong start to 2025! pic.twitter.com/UjM6lahUG4 — Brad Garlinghouse (@bgarlinghouse) January 8, 2025 Garlinghouse has recently expressed optimism about Trump’s future impact on the crypto industry. On January 5th, the executive highlighted on X that Trump’s bull market is real. Garlinghouse said Trump’s effect on the crypto industry is personal for Ripple. He cited the years-long battle Ripple had with the U.S. financial watchdog (The US SEC) under Gary Gensler’s reign. According to the X post, Garlinghouse explained that Gensler’s SEC effectively froze business opportunities for Ripple in the United States. He also emphasized that the optimism behind Trump’s involvement in the digital asset landscape is “obvious and well deserved.” Garlinhouse also explained that 75% of Ripple’s open roles originate from the U.S., compared to the last four years when a vast majority of Ripple hires were outside the U.S. Garlinghouse also detailed that Ripple has garnered more US deals since Trump won the elections than in the preceding six months. Garlinghouse said that Trump and his incoming administration, including crypto-oriented appointments Scott Bessent, David Sacks, and Paul Atkins, are already jumpstarting innovation and job growth in the US despite the fact that he has yet to be sworn in. Garlinghouse also expressed his belief that the “Trump effect” is already making crypto great again. During an interview with 60 Minutes, Brad Garlinghouse said Trump embraced crypto, and crypto embraced Donald Trump. According to crypto data aggregator CoinMarketCap, Ripple’s XRP has shed 3.19% in the last 24 hours, bringing its seven-day gain to 10.58%. The digital asset boasts a 24-hour trading volume of $8.2 billion and a market capitalization of $133.4 billion at the time of this publication. Trump meets crypto exchange CEOs Brian Armstrong and Kris Marszalek The Trump-Garlinghouse-Alderoty dinner is Trump’s latest meeting with leading crypto figures since his re-election on November 5th. On November 19th, Trump’s newfound influence in the crypto industry resulted in a call between the president-elect and Coinbase’s founder and CEO, Brian Armstrong. Sources familiar with the meeting anonymously revealed that Armstrong and Trump mainly touched on crypto appointments, although the two did not discuss specific individuals and appointments. During the campaign period, Armstrong and his company donated nearly $50 million to support pro-crypto candidates, including the president-elect, who once claimed crypto and Bitcoin were scams. On November 18th, The Wall Street Journal reported that Armstrong and Trump were going to meet privately, but no further reports have surfaced to confirm if the meetup happened. On December 17th, Trump also met Kris Marszalek, the CEO of crypto exchange Crypto.com, at the Florida golf course. According to an anonymous lead from a source familiar with the meeting, the two discussed crypto-related appointments and Trump’s plan to make Bitcoin a strategic reserve asset for the U.S. Treasury. In October, Crypto.com filed a lawsuit against the U.S. Securities and Exchange Commission after receiving a Wells notice indicating the regulator’s intention to bring an enforcement action against the Singapore-based crypto exchange. However, the exchange voluntarily withdrew the suit, citing its intentions to work with Trump’s incoming administration. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
The past week has marked a significant milestone for Cardano [ADA], sparking interest among institutional investors as the cryptocurrency surges. ADA’s resurgence is turning heads in the institutional world, with
Binance introduces new perpetual trading options while facilitating Fantom swaps to SONIC. Binance Futures announced SONICUSDT perpetual contracts on Jan. 8, 2025, at 15:00 (GMT+8), offering up to 75x leverage. These contracts will be settled every four hours in USDT, with funding rates capped at ±2.00%. This launch coincides with the ongoing transition from Fantom ( FTM ) to Sonic (S) tokens, providing users with a new way to trade Sonic SVM within the Futures market. You might also like: FTM could rally over 250% following its transition to Sonic: analysts As part of the FTM-to- Sonic migration, all FTM trading pairs will be delisted on Jan. 13, 2025. Binance has announced a 1:1 token swap, allowing FTM holders to seamlessly convert their tokens into S tokens. On Jan. 16, 2025, trading for the S token will officially begin, featuring new pairs such as S/USDT, S/BTC, and S/BNB. Binance has ensured that customers can convert their FTM holdings to Sonic tokens automatically without manual intervention. SONICUSDT perpetual futures contracts are designed for around-the-clock trading with no expiration date, offering traders significant flexibility. Additionally, these contracts are compatible with Binance’s multi-asset margin model, which allows users to utilize assets other than USDT, such as Bitcoin, to meet margin requirements. It is important to note that the availability of SONICUSDT on Binance Futures does not guarantee its listing on Binance Spot. Furthermore, perpetual contracts are different from spot trading. Key parameters, including funding rates, leverage, and margin requirements, may be subject to adjustments based on market conditions. As S tokens replace FTM, users are encouraged to familiarize themselves with the new ecosystem, which introduces features such as an incentive program for developers and governance opportunities. The transition reflects Binance’s ongoing efforts to align with evolving blockchain projects while offering diverse trading options for its users. For more details on the SONIC USDT perpetual contracts and the FTM-to-Sonic migration, users should refer to Binance’s official announcements to ensure they remain informed about the latest platform updates and requirements. You might also like: Sonic passes Aave temp check for v3 integration
Binance introduces new perpetual trading options while facilitating Fantom swaps to SONIC. Binance Futures announced SONICUSDT perpetual contracts on Jan. 8, 2025, at 15:00 (GMT+8), offering up to 75x leverage. These contracts will be settled every four hours in USDT,…
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For more information about Rexas Finance (RXS) visit the links below: Website: https://rexas.com Win $1 Million Giveaway: https://bit.ly/Rexas1M Whitepaper: https://rexas.com/rexas-whitepaper.pdf Twitter/X: https://x.com/rexasfinance Telegram: https://t.me/rexasfinance The post Cheap Shiba Inu Alternative at $0.175 All Set to Turn $700 into $27,300 in Just 7 Weeks appeared first on CoinGape .
The XRP community is buzzing with anticipation as Ripple CEO Brad Garlinghouse shared news of a recent dinner meeting with President-elect Donald Trump and Ripple’s Chief Legal Officer, Stuart Alderoty. This high-profile gathering, just days before Trump’s inauguration, marks a pivotal moment for Ripple and its native token, XRP. XRP’s Bullish Momentum Gains Traction The … Continue reading "Ripple CEO Meets Trump Amid Bullish XRP Momentum" The post Ripple CEO Meets Trump Amid Bullish XRP Momentum appeared first on Cryptoknowmics-Crypto News and Media Platform .
The past week has been incredibly profitable for ADA, but what lies ahead?