In contrast to Bitcoin’s modest gain, Ether, the second-largest cryptocurrency by market capitalization, saw a decrease of 0.5%. Other major cryptocurrencies also faced challenges; Dogecoin and Solana each saw a decline of approximately 5%. On the brighter side, BNB Chain tokens experienced a notable increase of up to 8%, amid circulating reports that Binance might be nearing a $4 billion settlement to resolve legal issues in the United States.
The cryptocurrency market’s mixed performance comes against a backdrop of declining headline inflation since the beginning of the year. Analysts from a major exchange have suggested that Bitcoin may enter a period of lateral movement in the upcoming weeks. They also anticipate that the Federal Reserve will hold interest rates steady in December as part of its ongoing efforts to support economic growth.
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Source: Cryptocurrency - investing.com
