Bitcoin plunges below $ 98,000

The cryptocurrency market lost more than 5% of its capitalization overnight, dropping to $ 3.34 trillion. Bitcoin BTC $94,566.65 Bitcoin -2.20% Market capitalization $1.87 trillion VOL. 24 hours $3.39 billion failed to hold on to $ 97,000, and most altcoins also showed negative dynamics.

The main cryptocurrency is trading at $ 97,672, having reached a daily low of $ 95,587. Bitcoin’s trading volume decreased by 3.52% to $ 93.85 billion. The price was significantly affected by the outflow of funds from ETFs in the amount of $ 671 million on December 19.

Among the altcoins, Ethereum ETH $3,335.69 Bridged Ether (StarkGate) -1.15% Market capitalization $0.3 billion VOL. 24 hours $1.94 billion and Solana SOL $196.50 Solana -1.42% Market capitalization $95.06 billion VOL. 24 hours $0.83 billion suffered the most, losing 8.18% and 7.67% of their value, respectively. Ethereum is trading at $ 3,368 and Solana at $ 193. XRP $2.35 XRP 1.13% Market capitalization $135.02 billion VOL. 24 hours $0.92 billion showed less volatility with a 2.7% drop.

Some cryptocurrencies still managed to grow. The MOVE token added 10.93% to the price of $ 0.8242, and HBAR rose by 2.01% to $ 0.2786. ENA (-18.07%) and VIRTUAL (-16.92%) suffered the biggest losses.

Despite the overall decline, the Fear and Greed Index remains at 62 points, indicating that optimism prevails. Market participants are waiting for further signals from the US Federal Reserve regarding the interest rate.