Happy Thursday!

Bitcoin's recent plunge to the $100,000 mark has sent ripples through the cryptocurrency market, following a hawkish tone from the Federal Reserve despite a 25 basis point rate cut. Jerome Powell's comments have prompted investors to reassess their positions, triggering a sell-off in risk assets. Meanwhile, the Delhi High Court has ordered a new investigation into WazirX amid allegations of financial misconduct linked to a North Korean hack, raising fresh concerns in the crypto space. In a notable shift, data from Glassnode reveals that wealth is moving from long-term Bitcoin holders to new investors, highlighting changing dynamics in market participation. Stay tuned for more insights into these pivotal developments.

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The global crypto market cap is $3.45 trillion, with a 24-hour volume of $266.01 billion. The price of Bitcoin is $100,029.23, and BTC market dominance is 57.3%. The price of Ethereum is $3,580.86, and ETH market dominance is 12.5%. The best-performing sector is Debit Card, which gained 2%. The Crypto Fear & Greed Index is currently Greed (75).

📰 Top News

Bitcoin falls to $100,000 following hawkish FOMC despite 25bp rate cut

Despite the cut being priced, Jerome Powell's remarks on rate policy shook the risk asset markets.

Delhi High Court orders new probe into WazirX amid Binance delisting

The Delhi High Court demanded a fresh investigation in response to allegations of financial irregularities and a North Korean-linked hack.

Bitcoin sees wealth shift from long-term holders to new investors – Glassnode

The profit-taking activity by long-term holders was met by new entrants' demand, reflecting a wealth shift movement.

Ad: Bitget Announces Strategic Collaboration with the TRON Blockchain including the Acquisition of $10M of TRX

Bitget's collaboration with TRON aims to expand blockchain accessibility and cement TRON's role in onchain global payments.

📈 Latest Insights

• Solana surpasses rivals with record-breaking 66.9 million daily transactions

🗞️ More News

• El Salvador agrees to scale back Bitcoin policies for $1.4 billion IMF loan

• Polygon rejects proposal to bridge funds into Morpho to drive DeFi growth

• Hong Kong approves 4 new crypto trading platform licenses in regulatory push

• Bitwise CIO downplays price ‘hiccup’ amid Bitcoin bull trend after FOMC shakes markets

• Arthur Hayes predicts crypto slump around Donald Trump’s inauguration