Bitcoin holds $104K as XRP, AVAX and Solana traders take profits
- The cryptocurrency sector valuation declined 4% on Wednesday, dropping toward $3.8 trillion.
- While Bitcoin price dipped 2% to consolidate around the $104,600 mark, top altcoins like XRP, AVAX and SOL suffered excess of 5% losses on the day.
- The sell-the-news frenzy comes as the Fed projects fewer rate cuts in 2025.
Altcoin market updates: Solana, XRP AVAX among top losers, Fed triggers sell-the-news frenzy
As the US central bank’s governors on Wednesday projected fewer rate cuts in 2025, crypto traders opted to take profits off the table.
This effectively ended a week-long rally that has seen Bitcoin (BTC), Ripple (XRP) and Avalanche (AVAX) all score double-digit gains since December 10.
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