Cryptocurrency experts have recorded a sharp drop in all major digital assets

Crypto industry analysts report that on Monday, December 11, the value of the leading cryptocurrencies BTC $93,481.15 Bitcoin -2.16% Market capitalization $1.85 trillion VOL. 24 hours $2.77 billion and ETH $3,293.58 Bridged Ether (StarkGate) -0.56% Market capitalization $0.29 billion VOL. 24 hours $1.48 billion dropped significantly. Both digital assets lost almost 5% per day. According to the analytical tracker CoinMarketCap, the capitalization of the entire virtual coin industry has dropped to $ 1.51 trillion, losing 4.51%.

At the time of writing, the flagship crypto asset is trading at $ 42,159 with a market capitalization of $ 825.5 billion. Traders made daily trading deals worth $ 24.7 billion. Bitcoin’s market share amounted to 52.4%.

As for Ethereum, the main altcoin is currently down 4.57% at $ 2,243. The total number of coins circulating on the market amounted to $ 269.7 billion. Daily trading transactions exceeded $ 12.5 billion. Ethereum’s market share is 17.1%.

We would like to add that according to Bloomberg experts, two important events this week will lead to volatility in the stock and cryptocurrency markets. We are talking about the Federal Reserve’s upcoming decision on interest rates and the publication of November inflation data in the United States.

According to Bloomberg analysts, traders expect that «these events will cause market turbulence as the financial world tries to predict the mood of the global economy in 2024.» According to the experts' report, the indicator of expected volatility is at its highest level since March this year.

It is worth noting that some of the leading cryptocurrencies have fallen in price even more than BTC and ETH over the past day. Thus, Cardano ADA $0.87 Cardano -2.24% Market capitalization $31.12 billion VOL. 24 hours $0.21 billion lost 8.55%, Ripple XRP $2.15 XRP -3.32% Market capitalization $123.08 billion VOL. 24 hours $0.8 billion fell by 7%, and Avalanche AVAX $35.90 Binance-Peg Avalanche -2.90% Market capitalization $72.02 million VOL. 24 hours $90.6 million - by 6.6%.