Crypto Market Tumbles: Is a New Rally on the Horizon Despite Recent Setbacks?

Crypto Market Crash: Is This the End of the Bull Run?

The cryptocurrency market recently experienced a significant downturn, with Bitcoin's price dropping to $98.8K after reaching an all-time high (ATH) of $103.9K just days earlier. According to CoinGape, this decline was influenced by several factors including Bhutan selling off $40M in Bitcoin and Justin Sun liquidating $119M worth of Ethereum. Despite these setbacks, analysts suggest that this may be a necessary pullback before another rally potentially leading into 2025.

This crash also affected major altcoins; however, some like PEPE and X Empire showed resilience with notable gains amidst the turmoil. The current situation is seen as part of a broader trend where increased liquidation pressures are causing volatility across markets.

XRP Price Drop After Garlinghouse’s Interview

Ripple's XRP saw its value drop significantly following CEO Brad Garlinghouse's appearance on CBS' "60 Minutes." As reported by crypto.news, XRP fell to $2.40 from its peak at $2.90 due to concerns raised during the interview about Ripple Labs’ operations and regulatory status not being fully addressed or accurately portrayed.

Despite this setback, Ripple continues handling billions in transactions annually while maintaining compliance standards for institutional clients worldwide—a testament to its ongoing influence within digital finance sectors despite recent challenges faced post-interview exposure.

Economist Predicts Potential Crypto Crash in 2025

An economist from Moody’s warns that both cryptocurrencies and stocks might face substantial declines come 2025 if certain economic conditions persist unchecked over timeframes ahead. This is according to a crypto.news analysis piece detailing potential catalysts behind such predictions, made publicly available through their platform online today.

Sources:

Your opinion on this article

Dein Name

Your e-mail address

Please enter a valid email address.

Your comment

Please enter a comment.

Please inform me by email upon publication or response

No comments available

Article Summary

The cryptocurrency market experienced a downturn with Bitcoin dropping from its ATH, influenced by factors like Bhutan's and Justin Sun's sell-offs, while some altcoins showed resilience. Despite setbacks such as XRP’s drop post-Garlinghouse interview, analysts view this as a potential pullback before another rally leading into 2025 amidst broader volatility concerns.