Shiba

Cardano

Solana

Shiba Inu

<p>Picture this: Bitcoin, the unruly pioneer of the crypto realm, performing a daring high-wire act, only to find itself plummeting faster than a snowball at the start of January 2024. Is the crypto winter upon us, or are we merely witnessing a brief blizzard before the next bull run?</p>
<p>The recent descent of Bitcoin’s value has triggered a symphony of concern among crypto connoisseurs and market analysts, akin to the suspenseful buildup before a storm. Winter is coming – or is it?</p>
<h2 class="wp-block-heading" id="bitcoin-markets-mark-red-here-s-why">Bitcoin markets mark red – Here’s why</h2>
<p>Bitcoin has struggled to recover from a dramatic plunge that saw the largest crypto drop as much as 9.22% earlier in the week. Bitcoin (BTC) is currently trading at $43,416.00, with a 24-hour trading volume of $29,837,336,974.37. This is a 2.97% increase in the last 24 hours and a 1.20% increase in the last 7 days.&nbsp;</p>
<p>The global crypto market valuation is now $1.73 trillion, a 1.85% increase over the last 24 hours and a 103.07% increase over a year ago. As of today, BTC has a market cap of $851 billion, signifying a 49.09% crypto market dominance. Meanwhile, the market cap of stablecoins is $133 billion, accounting for 7.66% of the total crypto market worth.</p>
<p>Bitcoin reached a 21-month high on Jan. 2 ahead of a Jan. 10 deadline that may see the US Securities and Exchange Commission (SEC) approve the first exchange-traded fund (ETF) linked directly to the asset’s current price.</p>
<p>The most recent dip coincided with <a href="https://twitter.com/martypartymusic/status/1742641983393538545" rel="noopener noreferrer nofollow" target="_blank">industry speculation</a> that US regulators will reject the newest round of spot ETF applications, prolonging a years-long effort to launch them.</p>
<p>However, no concrete evidence was presented, and analysts swiftly dismissed the notion that the decision had already been made public.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Breaking: <a href="https://twitter.com/Fidelity?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">@Fidelity</a> just registered Form 8-A for their FIDELITY WISE ORIGIN BITCOIN FUND 👀 <a href="https://twitter.com/hashtag/Fidelity?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Fidelity</a> <br><br>8-A means they are now a registered security that can be traded PUBLICALLY!!!!<a href="https://twitter.com/search?q=%24FBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$FBTC</a> ETF is approved.<br><br>Update: Next will be the <a href="https://twitter.com/CBOE?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">@CBOE</a> listing of 315948109. Ill update when I… <a href="https://t.co/N1QXDKKxgM" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/N1QXDKKxgM</a></p>— MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1742641983393538545?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">January 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Subsequent filings by potential ETF providers heightened interest. These included Fidelity Investments’ securities registration, which quickly generated assertions that approval had come in early.</p>
<p>In response, James Seyffart, an analyst at Bloomberg Intelligence, disregarded the documents as confirmation of an ETF approval.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">My understanding here is that this is just a securities registration. In order to list the ETF still needs a 19b-4 approval and they need an effective/approved/completed S-1 document. No 19b-4 yet. And S-1 is still preliminary (seen below). I'm still looking towards next week <a href="https://t.co/VsgbpJHMVp" rel="noopener noreferrer nofollow" target="_blank">https://t.co/VsgbpJHMVp</a> <a href="https://t.co/Iu31AkUswP" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/Iu31AkUswP</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1742640909873770534?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">January 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The token and broader crypto market collapsed unexpectedly on Wednesday, as several feared after Matrixport analyst Markus Thielen wrote in a note that the SEC will reject all Bitcoin ETF proposals this month.</p>
<p>According to Coinglass statistics, the market drop resulted in the liquidation of more than $600 million in assets across all cryptocurrencies on key exchanges. This is the most liquidation since December 11.</p>
<h2 class="wp-block-heading" id="crypto-market-performance">Crypto market performance</h2>
<p>According to historical evidence, a decline in the BTC market follows a decline in the overall market. Ethereum, the second-largest <a href="https://www.cryptopolitan.com/the-2023-award-for-top-crypto-villain/" rel="noopener noreferrer nofollow">crypto</a> by market capitalization, is currently trading at $2,237.12 with a 24-hour trading volume of $21,111,585,868.16. This signifies a price surge of 1.50% over the last 24 hours and a decrease of -7.00% over the last seven days.</p>
<p>As of today, Solana (SOL) is trading at $100.60, exhibiting a 24-hour trading volume of $3,565,879,310.07. This signifies a price surge of 3.70% over the last twenty-four hours and a decrease of -0.50% over the previous seven days.</p>
<p>At present, XRP (XRP) is trading at $0.581503 per 24-hour period with a 24-hour volume of $1,790,919,893.48. This signifies a -9.00% price decrease over the last seven days and a 2.80% price increase over the last twenty-four hours.</p>
<p>Presently, Shiba Inu (SHIB) is trading at $0.00000993 per unit, with a 24-hour volume of $199,735,924.28. This signifies a price surge of 6.80% over the last twenty-four hours and a decrease of -7.20% over the last seven days.</p>
<p>Dogecoin (DOGE) is currently trading at $0.083829, with a 24-hour volume of trades totaling $738,156,382.95. This signifies a price surge of 2.63% over the last twenty-four hours and a decrease of -9.90% over the last seven days.&nbsp;</p>
<p>At present, Cardano (ADA) is trading at a price of $0.565078, accompanied by a 24-hour trading volume of $806,816,216.04. This signifies a twenty-four-hour price surge of 2.80% and a seven-day price decline of -11.30%.</p>

Red alert: Bitcoin’s tumble sparks concerns of a crypto winter

Table of Contents

Cryptopolitan_News

Other articles published on Jan 4, 2024

Web3 Quest: Set Out on a Mission for $1,000!

Nigeria’s Central Bank Rolls Out Regulations For Financial Institutions Dealing with VASPs

UBS Forecasts Unprecedented Surge in AI Industry, Predicts 15-Fold Surge in Revenue

Bitcoin garnered 87% of total flows into digital asset market in 2023

This Month’s Crypto Spotlight: Watching Polygon, Rebel Satoshi, and Dogecoin’s Movements

Ethereum Price Recovers Ground But Upsides Might Be Limited Above $2,300

Join our free newsletter for daily crypto updates!