The global cryptocurrency market is currently valued at $3.29 trillion, reflecting a decrease of 2.18% over the past day, as indicated by recent data. Bitcoin (BTC) has shown notable fluctuations, trading between $93,500 and $97,036 in the last 24 hours. As of 09:30 AM (UTC), Bitcoin is priced at $94,604, marking a decrease of 2.33%.
Overall, the cryptocurrency space is experiencing mixed performances among major assets, with standout performers such as PHA, ATA, and STEEM boasting impressive gains of 59%, 39%, and 25%, respectively. In today's highlights, significant stories are shaping the market landscape: the Federal Reserve is reassessing the economic impact resulting from the Trump administration's policies; the Blockchain Association is challenging IRS broker rules; Bitcoin ETFs are approaching asset sizes comparable to those of Gold ETFs; and ProShares is seeking approval for Bitcoin-hedged ETFs tied to major indices.
Additionally, five institutions are vying for the launch of cryptocurrency ETFs, while VolatilityShares is pursuing approval for Solana futures ETFs. In Congressional discussions, Treasury Secretary Janet Yellen is urging lawmakers to address concerns surrounding the debt ceiling. Meanwhile, the US dollar remains stable amidst low liquidity conditions typical of the holiday season.
In international news, Montenegro has approved the extradition of Do Kwon to the United States. Economists are forecasting that there may be larger-than-anticipated Federal Reserve rate cuts by the year 2025. Examining market movers, a variety of cryptocurrencies reflect current trends: Ethereum (ETH) is at $3,353.77, decreasing by 1.92%; Ripple (XRP) is priced at $2.1704, down by 2.15%; Binance Coin (BNB) stands at $700.09, showing a minor decline of 0.77%; Solana (SOL) is valued at $186.35, down 3.58%; Dogecoin (DOGE) is at $0.31763, down 1.54%; Cardano (ADA) trades at $0.8733, down 3.84%; TRON (TRX) is hovering at $0.2591, marginally up by 0.12%; Avalanche (AVAX) reaches $36.78, falling by 5.47%; Toncoin (TON) is at $5.71, down 2.48%; and Chainlink (LINK) is priced at $21.34, down 9.31%..