Bitcoin
Bitcoin (BTC)
$102,182.00 5.99565
Bitcoin price
Ethereum
Ethereum (ETH)
$2,149.92 19.85528
Ethereum price
BNB
BNB (BNB)
$623.06 4.1188
BNB price
Solana
Solana (SOL)
$161.50 10.79221
Solana price
XRP
XRP (XRP)
$2.28 8.01071
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000142 12.52365
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000108 32.25895
Pepe price
Bonk
Bonk (BONK)
$0.0000194 17.54239
Bonk price
dogwifhat
dogwifhat (WIF)
$0.678829 23.89296
dogwifhat price
Popcat
Popcat (POPCAT)
$0.485242 13.51329
Popcat price
Bitcoin
Bitcoin (BTC)
$102,182.00 5.99565
Bitcoin price
Ethereum
Ethereum (ETH)
$2,149.92 19.85528
Ethereum price
BNB
BNB (BNB)
$623.06 4.1188
BNB price
Solana
Solana (SOL)
$161.50 10.79221
Solana price
XRP
XRP (XRP)
$2.28 8.01071
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000142 12.52365
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000108 32.25895
Pepe price
Bonk
Bonk (BONK)
$0.0000194 17.54239
Bonk price
dogwifhat
dogwifhat (WIF)
$0.678829 23.89296
dogwifhat price
Popcat
Popcat (POPCAT)
$0.485242 13.51329
Popcat price
Bitcoin
Bitcoin (BTC)
$102,182.00 5.99565
Bitcoin price
Ethereum
Ethereum (ETH)
$2,149.92 19.85528
Ethereum price
BNB
BNB (BNB)
$623.06 4.1188
BNB price
Solana
Solana (SOL)
$161.50 10.79221
Solana price
XRP
XRP (XRP)
$2.28 8.01071
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000142 12.52365
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000108 32.25895
Pepe price
Bonk
Bonk (BONK)
$0.0000194 17.54239
Bonk price
dogwifhat
dogwifhat (WIF)
$0.678829 23.89296
dogwifhat price
Popcat
Popcat (POPCAT)
$0.485242 13.51329
Popcat price
Bitcoin
Bitcoin (BTC)
$102,182.00 5.99565
Bitcoin price
Ethereum
Ethereum (ETH)
$2,149.92 19.85528
Ethereum price
BNB
BNB (BNB)
$623.06 4.1188
BNB price
Solana
Solana (SOL)
$161.50 10.79221
Solana price
XRP
XRP (XRP)
$2.28 8.01071
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000142 12.52365
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000108 32.25895
Pepe price
Bonk
Bonk (BONK)
$0.0000194 17.54239
Bonk price
dogwifhat
dogwifhat (WIF)
$0.678829 23.89296
dogwifhat price
Popcat
Popcat (POPCAT)
$0.485242 13.51329
Popcat price

Why is crypto down today? Matrixport and other FUD

Dorian Batycka
Edited by
News
Why is crypto down today? Matrixport and other FUD

The crypto market witnessed a sharp decline just hours after the Matrixport report on Jan. 3. However, data shows that investors believe this could be a local bottom.

According to data provided by CoinGecko, the global crypto market capitalization is down by 4.8% in the past 24 hours and is currently hovering around $1.73 trillion — registering a $70 billion decline. 

On the other hand, CoinGecko data shows that the 24-hour global crypto trading volume recorded a 95% rally over the past day — rising from $94 billion to $183 billion.

The marketwide decline came after Matrixport published its analysis claiming that the U.S. Securities and Exchange Commission (SEC) will reject all the Bitcoin (BTC) exchange-traded fund (ETF) applications this month.

Just three hours after the Matrixport report, Bitcoin witnessed a 10% decline from around $45,500 to $40,800. However, the flagship cryptocurrency registered a notable correction and is currently trading at around $43,000. 

According to data provided by Santiment, the social media activity of the “sell” term witnessed a slight increase after the Matrixport proclamation and has cooled down as the market sees correction. 

Why is crypto down today? Matrixport and other FUD - 1
Social trends data – Jan. 4 | Source: Santiment

Moreover, data from Santiment shows a notable increase for the “buy” and “bullish” keywords — making up 3.3% and 0.5% of the global crypto conversations on social platforms. 

Calls for “buy the dip,” on the other hand, have increased significantly over the past 24 hours. On average, more than 37% of the social activity around the crypto ecosystem includes the “buy the dip” term.

Per Santiment, the majority of the bullish signals come from Reddit and X while Telegram and 4chan also have a small share.