The cryptocurrency market continues its sideways momentum. Bitcoin (BTC) is trading at the $102,000 level. The global crypto market cap has fallen 2.2% in the last 24 hours to $3.62 trillion. Investor sentiment also continues to fall. Fund inflows into crypto assets have also taken a hit.
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Why Is The Cryptocurrency Market Suffering?
The current market dip is likely due to macroeconomic factors. The US dollar is gaining strength. Investors are flocking to safer assets instead of cryptocurrencies.
The crypto market faced a correction in December 2024 after inflation in the US rose to 2.7%. The Federal Reserve took a hawkish stance with its monetary policy to combat rising inflation figures.
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Despite the dip, the cryptocurrency market could pick up steam later this year. US President Donald Trump said he wants the crypto industry to thrive in the country. Many financial institutions are applying for crypto-based ETFs. The development could lead to a significant price rally.
Top 3 Cryptocurrencies That Could Get ETFs In 2025
1. Ripple (XRP)
Ripple’s XRP token broke into a rally in late 2024. The asset breached the $3 mark for the first time in seven years.
WisdomTree filed for an XRP ETF last year. There is a possibility that we will get an XRP ETF sometime in 2025.
2. Solana (SOL)
Solana (SOL) is another popular cryptocurrency that could get an ETF this year. The SOL network has witnessed incredible growth over the last year. President Donald Trump also launched an official crypto on the SOL network.
3. Dogecoin (DOGE)
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DOGE has witnessed incredible growth over the last few months. Bitwise applied for a DOGE ETF recently. While the filing is under review, there is a chance the meme cryptocurrency will also receive an ETF soon.