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The cryptocurrency market experienced a sharp downturn today.

Bitcoin (BTC) stabilized around the $96,000 mark, while major altcoins like Ethereum (ETH), Solana (SOL), XRP, and Binance Coin (BNB) faced significant losses.

The market-wide crash led to liquidations totaling $1.46 billion over the past 24 hours, highlighting intense volatility.

Bitcoin ETFs recorded mixed performance, with significant inflows at Fidelity ($175M), while Bitwise and ARK ETFs saw outflows of $39M and $34M, respectively.

A proposed Bitcoin reserve by a Russian lawmaker added a layer of geopolitical intrigue, positioning BTC as a potential tool for financial stability amidst international sanctions.

Price: $3,691 (down 7% in 24 hours).

Market Cap: $445 billion.

Trading Volume: $60 billion.

Ethereum ETFs saw net inflows of $5.6 million, primarily driven by Fidelity, though some providers like Bitwise reported outflows.

The meme coin sector mirrored the bearish trend, with tokens like PEPE, WIF, and BONK losing between 15% and 25%.

LEO stood out as the sole top gainer amid the broader market slump.

Source: CoinMarketCap

Bitcoin remains resilient amid heightened volatility but struggles to regain the $100K mark.

Altcoins face a challenging market environment, with ETH, XRP, and SOL posting notable losses. 

Mixed ETF flows highlight uncertainty, while geopolitical developments like Russia’s Bitcoin reserve proposal signal growing institutional interest in cryptocurrency.

As the market digests these shifts, investors should brace for continued volatility and monitor regulation, market sentiment, and adoption developments.

The post Crypto market snapshot, Dec 10 morning: Bitcoin holds at $96K as altcoins plunge appeared first on Invezz

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