Bitcoin, BONK retreat, Pepecoin optimism (OP) soars

Cryptocurrency prices were in negative territory today, a day after the US Commerce Department released PCE inflation data. Meanwhile, as the latest data shows, inflation appears to be declining, which has boosted market confidence while boosting Fed interest rate cut bets.

However, despite the moderating inflation figures, cryptocurrency prices have fallen, especially due to the decline in the market capitalization of the largest cryptocurrencies. Analysts suggest this market decline may be due to a pause following the recent bull run, with investors now looking to a potential Santa Claus rally that could push prices higher.

In cryptocurrency prices today, the price of Bitcoin fell 1.46% to $43,466.57 at the time of writing, with trading volume down 8.5% to $20.53 billion. Meanwhile, the cryptocurrency broke through the $44,000 market, hitting a high of $44,367.96 in the last 24 hours.

Meanwhile, the price of Ethereum rose 0.80% to $2,276.52 as of writing on December 23, and trading volume surged 26.57% to $16.19 billion. On the other hand, the BNB price decreased by 2.31% to $266.5 million, and trading volume decreased by 16.17% to $995.39 million.

Meanwhile, Solana price, which has shown a strong rise over the past few days, fell 4.03% intraday to $94.03, and trading volume decreased 17.45% to $4.46 billion. Additionally, the price of XRP fell 1.13% to $0.6138 at the time of writing.

The meme coin sector also shows the same picture as the prices of most major cryptocurrencies. At the time of writing, Dogecoin price was down 1.20% to $0.0927, with trading volume down 35.9% to $561.98 million. At the same time, the price of Shiba Inu recorded $0.00001056, down 0.15% from yesterday.

The global cryptocurrency market recorded $1.65 trillion, down 1.02% from yesterday due to a decline in the prices of major cryptocurrencies. On the other hand, the overall market trading volume increased by 2.38% to $69.66 billion. In particular, the market’s fear and greed index was 75, suggesting that a ‘greed’ mentality was hovering in the market.

Also Read: OpenAI Seeks New Funding With $100 Billion Valuation For First Time After Sam Altman Drama

Here are today’s top cryptocurrency prices:

Add 15% Pepe Coins

The Pepe Coin cryptocurrency surprised market observers on Saturday with its recent gains after a turbulent journey over the past few days. At the time of writing, the price of Pepe Coin, a popular meme coin, is up 14.80% to trade at $0.000001478, with trading volume surging 265.33% in the last 24 hours to $367.14 million. The recent gains have seen the cryptocurrency gain more than 8% in the past seven days.

BONK slip 10%

BONK price was trading down 9.91% at $0.0000183 at the time of writing on Saturday, reflecting recessionary sentiment across the broader digital asset space. Meanwhile, the token’s trading volume also decreased by 46.12% to $271.93 million in the last 24 hours. However, the Solana-based meme coin has surged nearly 330% in the past 30 days.

Optimism (OP) surges 28%

Optimism’s price is up 28.24% and trading at $3.24 at the time of writing on December 23, suggesting growing investor confidence. Meanwhile, cryptocurrency trading volume also increased by 236.39% at the same time, reaching $1.14 billion. Over the past seven days, the cryptocurrency has increased by more than 51% as of this writing.

Elf (ELF) up 25%

The Elf cryptocurrency has been another top percentage gainer in the cryptocurrency market today and has gained notable traction from market participants. Meanwhile, Elf price rose 25.05% to $0.9668 during the period of writing, with trading volume over the last 24 hours up 214.36% to $86.39 million. Notably, the price of ELF has risen by almost 15% over the past 7 days.

Also Read: BlackRock Prepares $3 Million Seed Funding for Bitcoin ETF Next Week

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A seasoned professional with three years of experience in the financial markets, Rupam has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial environment. Currently working as a sub-editor and cryptocurrency journalist at Coingape, Rupam’s expertise goes beyond traditional boundaries. His contributions include breaking news, exploring AI-related developments, providing real-time cryptocurrency market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the complexities of finance and telling impactful stories that resonate with diverse audiences.

The content presented may include the personal opinions of the author and may vary depending on market conditions. Do your market research before investing in cryptocurrency. Neither the author nor the publication accepts any liability for your personal financial losses.