The cryptocurrency market faced another day of bearish pressure, with Bitcoin (BTC) hovering around the $95,000 mark.
The global crypto market cap dipped nearly 2% to settle at $3.27 trillion, while trading volumes shrank by 15% to $138 billion.
Market sentiment also softened, with the fear and greed index slipping from 59 to 54, indicating a neutral stance.
Several altcoins followed Bitcoin’s downward trajectory, posting losses between 2% and 5% over the past 24 hours.
Movement (MOVE) saw the steepest drop, losing 20% of its value, followed by Hyperliquid (HYPE), which fell 19%.
HYPE had recently emerged as a top performer, making its way into the top 20 cryptocurrencies by market capitalization.
In a positive development, pro-Bitcoin former US President Donald Trump appointed Bo Hines as the Executive Director of the Presidential Digital Asset Advisory Committee.
Led by Chairman David Sacks, the committee will focus on fostering innovation in the digital asset space.
Here’s a closer look at how leading cryptocurrencies performed today:
Bitcoin, Ethereum, XRP, and Solana experience losses
Bitcoin (BTC) continued its decline for the third consecutive day, now trading at $94,686, a 2% drop over the last 24 hours.
The leading cryptocurrency hit a 24-hour low of $93,797 and a high of $97,371.
With a market cap of $1.88 trillion and a trading volume of $46 billion, BTC remains the dominant force in the crypto market.
Ethereum (ETH) was trading at $3,284, marking a 2% drop in the last 24 hours.
The second-largest cryptocurrency saw a low of $3,220 and a high of $3,401, with a market cap of $394 billion and $26 billion in trading volume.
XRP slipped 2%, trading at $2.18. Its market cap of $124 billion places it as the fourth-largest cryptocurrency.
Ripple Labs’ CTO David Schwartz recently unveiled details about the RLUSD stablecoin, highlighting its potential benefits for users and developers, adding to Ripple’s growing product suite.
Solana (SOL) traded at $182, reflecting a slight drop. The cryptocurrency recorded a low of $176 and a high of $187 over the last 24 hours, with a market cap of $87 billion and a trading volume of $4 billion.
Meme coins face declines
Dogecoin (DOGE) fell by 3%, trading at $0.3173, while Shiba Inu (SHIB) declined 2% to $0.00002177.
However, select meme coins such as PEPE, BONK, and WIF bucked the trend, posting gains of 1% to 4%.
Analysts are closely watching critical support levels for Shiba Inu, with potential upward movement on the horizon.
Top crypto gainers
Aave (AAVE)
Aave surged by 9% to $324, with a 24-hour low of $292 and a high of $323. The lending platform continues to demonstrate robust market performance, boasting a market cap of $4.86 billion.
FTX Token (FTT)
FTT saw an 8% rise, trading at $3.047. The token’s low and high for the day were $2.782 and $3.068, respectively, showcasing its resilience despite broader market declines.
Algorand (ALGO)
Algorand gained 7%, trading at $0.35, with a low of $0.3181 and a high of $0.3625. This upward movement highlights ALGO’s potential in the current market.
Top crypto losers
Movement (MOVE)
MOVE experienced the largest drop of the day, falling 20% to $0.75 after several days of gains. Its trading range spanned $0.71 to $0.92 over the past 24 hours.
Hyperliquid (HYPE)
HYPE followed closely with a 19% decline, trading between $25.51 and $34.99.
The post Crypto market snapshot, Dec 23: BTC at $95K, MOVE and HYPE see double-digit drops appeared first on Invezz
