24x7 Flash News
Stay informed with accurate and timely crypto news — from Bitcoin to altcoins to DeFi, Web3, and market trends.
Phemex Crypto Market Daily: Crypto Market Drops as BTC, ETH Slide; FOMC and CPI Data in Focus (Dec 12)
Key Takeaways:
1. Macro Environment The US Federal Reserve delivered a third consecutive rate cut, boosting global risk appetite and supporting crypto inflows. The SEC approved tokenization of US Treasuries and ETFs, signaling a shift toward blockchain-based finance. Lawmakers are pushing for crypto inclusion in 401(k) plans, potentially accelerating mainstream adoption. 2. Crypto Market The crypto market saw broad declines over the past 12 hours, with Bitcoin down 4.43% to $97,474 and Ethereum falling 9.27% to $3,144. Altcoins also retreated, led by Mantle (-8.71%), Hyperliquid (-3.60%), and Merlin Chain (-2.20%). The downturn follows profit-taking after recent ETF-driven rallies and increased macro uncertainty. 3. Today's Outlook Today, the FOMC interest rate decision and US Core CPI data release are expected to drive volatility across USD and crypto markets. Additionally, the IO token unlock will release 10.23M tokens (1.28% of supply), potentially impacting IO price dynamics.
