Over the past day, there’s been a significant drop of approximately $200 billion in the cryptocurrency market value, with leading digital currencies like Bitcoin, Ethereum, and Binance Coin experiencing price decreases ranging from 3% to 5.6%.
In simpler terms, out of various digital assets, XRP seems to be performing quite well, experiencing a decrease of approximately 2.4% over the specified timeframe. This has brought its price close to $2.353 per token, a drop from its peak near $2.5 this year.
The significant fall in the cryptocurrency market over the past day has led to $690 million worth of liquidations, as reported by CoinGlass. This drop appears to be influenced by several factors such as a decline in traditional markets, with the S&P 500 dipping approximately 1.1% during yesterday’s trading session, and the NASDAQ experiencing a loss exceeding 1.8%.
As an analyst, I’ve noticed a substantial increase in Treasury yields recently. Specifically, the yield on the 10-year U.S. Treasury has risen approximately 5 basis points, bringing it up to 4.683%. This spike occurred as job openings in the United States exceeded expectations in November, which could indicate a tightening labor market.
The recent tumble in the cryptocurrency market has led bitcoin to revert to approximately $95,000 per coin, while Ethereum’s ether is currently being exchanged at about $3,350. The cumulative value of all cryptocurrencies now stands at around $3.33 trillion.
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2025-01-08 15:43