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Bitcoin, Ethereum, Dogecoin Fall After Fed Shows No Interest For Piling BTC: Top Analyst Says Sentiment Shifting — '2025 Suddenly Looks A Lot Less Rosy'

Benzinga ·  Dec 19, 2024 09:59

Leading cryptocurrencies tanked Wednesday after the Federal Reserve's hawkish outlook and the central bank's statement that it has no interest in owningBitcoin.

CryptocurrencyGains +/-Price (Recorded at 7:45 p.m. ET)
Bitcoin (CRYPTO: BTC)-4.94%$100,644.84
Ethereum (CRYPTO: ETH)

-5.81%$3,648.03
Dogecoin (CRYPTO: DOGE) -8.26%$0.3603

What Happened:Bitcoinplunged sharply through the day but managed to stay above the psychologically crucial $100,000 mark.

Ethereum's descent was steeper, as the second-largest cryptocurrency retreated to the $3,600 region following a near 6% drop.

The slump triggered over $675 million in cryptocurrency liquidations in the last 24 hours, with long liquidations hitting $578 million.

The decline came following Fed ChairJerome Powell's comments during the press conference following the Federal Open Market Committee meeting, where he...

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