<\/p>\n
Cryptocurrencies declined in midday trading on Tuesday, November 4th, marking their second consecutive session of losses. This decline coincided with a wave of profit-taking and a continued drop in market capitalization, with altcoins leading the losses. Institutional demand slowed, with the pace of new coin issuance decreasing for the first time in seven months.<\/p>\n
Reports indicated that approximately $1.27 billion in leveraged futures positions in cryptocurrency markets were liquidated, according to CoinGlass data. This represents the largest liquidation in weeks.<\/p>\n
Financial markets are also affected by the reduced market expectations for a US Federal Reserve interest rate cut in December. As of Tuesday, the CME FedWatch tool is pricing in a 70% probability of a 25-basis-point rate cut in December, down from over 95% before last week’s Fed meeting. This follows Federal Reserve Chairman Jerome Powell’s statement that a December rate cut is data-dependent and not a certainty. The combined market capitalization of cryptocurrencies, according to Coingeako, which tracks over 17,000 cryptocurrencies, fell by approximately 4.1% on Monday, trading at $3.53 trillion. Bitcoin led the decline at 58.8%, followed by Ethereum at 11.9%.<\/p>\n
Bitcoin traded at $104,502, down about 2.59% at the start of trading, with its market capitalization falling to $2.083 trillion. It is nearing its October low and trading at its lowest level in four months. Ethereum, the second-largest cryptocurrency, declined by about 5.17%, trading at $3,504, with a market capitalization of $423 billion, its lowest level in three months. It has recorded losses of more than 15% in the last seven trading sessions. XRP (Ripple), the fourth-largest cryptocurrency by market capitalization, is down about 5.50% today, trading at $2.26 with a market capitalization of $136 billion.<\/p>\n
Dogcoin is down about 4.52%, trading at $0.1651 with a market capitalization of $25 billion. Cardano is down about 5.40%, trading at $0.5429 with a market capitalization of about $19 billion.<\/p>\n
Solana is down about 8.41%, trading at $159 with a market capitalization of $88 billion. TRON is down 4.33%, trading at $0.2797 with a market capitalization of $26 billion.<\/p>\n
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Cryptocurrencies declined in midday trading on Tuesday, November 4th, marking their second consecutive session of losses. This decline coincided with a wave of profit-taking and a continued drop in market capitalization, with altcoins leading the losses. Institutional demand slowed, with the pace of new coin issuance decreasing for the first time in seven months. Reports […]<\/p>\n","protected":false},"author":1,"featured_media":8582,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-8581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-currencies"],"acf":[],"yoast_head":"\n