Slight Decline in Cryptocurrency Prices: Bitcoin Losses Reach 1.59%
BitVerge – The cryptocurrency market is preparing for two significant events: the upcoming Federal Open Market Committee (FOMC) meeting in the US and the launch of a Donald Trump-backed crypto platform.
In the midst of these developments, Bitcoin saw minor declines on Monday, September 16, with a 1.59% drop, trading at $58,407 after briefly crossing the $60,000 mark over the weekend.
According to Vinayak Shekhar, co-founder of Pi42, Bitcoin’s value decreased after an alleged assassination attempt on Donald Trump led to liquidations exceeding $116 million.
The market now awaits the Federal Reserve’s interest rate decision, with expectations split between a 25 and 50 basis point cut.
Ethereum, meanwhile, recorded losses of nearly 5% on both national and international exchanges in the last 24 hours, currently valued between $2,279 and $2,289.
Other cryptocurrencies, including Stellar, Cronos, Cosmos, Polygon, Bitcoin SV, Elrond, and Zcash, also saw declines. According to CoinMarketCap, the total market capitalization of cryptocurrencies dropped by 3.14% over the last 24 hours, with the global digital currency market now valued at $2.03 trillion. However, cryptocurrencies like Binance, Solana, Dogecoin, Shiba Inu, Leo, Near Protocol, Binance USD, and Monero posted slight gains on Monday.
Shivam Thakral, CEO of BuyUcoin, stated that despite short-term concerns, analysts remain optimistic. He pointed out that the Fear and Greed Index indicates extreme fear, which may offer a buying opportunity, signaling a promising future for Bitcoin, Solana, and the broader cryptocurrency market.
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