🚨 How Are Global Events Impacting the Crypto Market Today?

Author

CoinGape Media
December 23, 2024

News

Rich Dad Poor Dad author Robert Kiyosaki recently warned about an impending global economic depression. In a recent social media post, the renowned author said that the global market crash has already begun, as he predicted earlier, indicating that the financial market might enter a “depression” phase ahead. Notably, this comes as the crypto market records massive volatile trading, sparking concerns over what’s next for Bitcoin (BTC).

On the fourth anniversary of SEC v. Ripple, Chief Legal Officer (CLO) Stuart Alderoty has publicly called for its end. He also requested the incoming Donald Trump administration to address damages done by former SEC official William “Bill” Hinman, including regulatory statements that confused the industry and provided an advantage to some.

MicroStrategy has announced another Bitcoin purchase, its seventh in as many weeks. This recent purchase brings the company’s total holdings to 444,262 BTC, and it comes amid its Nasdaq-100 listing today.

Pepeto is a new cryptocurrency project that combines memecoin elements with a utility-focused ecosystem designed for retail investors

Markets

The cryptocurrency market today remained bearish, with Bitcoin (BTC) dropping below $95,000. Movement (MOVE) plummeted by 20%, and Hyperliquid (HYPE) followed with a 19% drop. Notably, HYPE had been the top gainer for the past two days, recently entering the top 20 in market capitalization.

The global market cap declined by 2% to $3.27 trillion, while trading volume dropped 15% to $138 billion. The fear and greed index also fell from 59 to 54, signaling a shift to neutral sentiment. Major altcoins saw losses ranging from 2% to 5%.

In positive news, pro-Bitcoin former US President Donald Trump appointed Bo Hines as the Executive Director of the Presidential Digital Asset Advisory Committee. This committee led by Chairman David Sacks aims to drive innovation and development in digital assets.

Let’s delve deeper into the performance of top cryptocurrencies as reflected in the crypto prices today December 23.

Bitcoin price today trades at $94,650 after dropping 12% from its all-time high (ATH) of $108,421. Investors are shocked due to the quickness of the recent crash that wiped out more than $1 billion worth of positions. But these three reasons suggest that BTC crash could be coming to an end. Let’s explore what comes next for the largest cryptocurrency in the world and the rest of the crypto markets.

Crypto prices have crashed by double digits from their December highs. While this crash has hurt holders, it has led to big discounts since analysts expect Bitcoin and other altcoins to bounce back soon. So, here are some of the best crypto coins to buy during Christmas at a discount ahead of the next bull run.