Bitcoin (BTC) faced a sharp correction on Dec. 11 plummeting as much as 8% to a four-month low at $40,150, wiping out the gains of the past seven days. 

This drop in BTC’s price has triggered a market-wide re-evaluation, prompting a debate on the potential for altcoins to spearhead the next significant rally in the cryptocurrency landscape.

Market experts and analysts believe the recent price crash is a part of the ongoing price cycle, and after two months of a bullish surge, a correction was inevitable.

Analysts’ insights into Bitcoin’s recent pull-back

Crypto analyst and co-founder of Reflexivity Research Will Clemente interpreted the market correction as a means to shake out weak…

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Cryptocurrencies were mixed Thursday as traders digested news that the Federal Reserve plans to slash rates more than expected in 2024. Stocks extended their Fed-fueled rally that saw the Dow Jones Industrial Average surpass 37,000 for the first time. 

Bitcoin, which initially rose as much as 2.6% Wednesday following the central bank’s announcement, faltered Thursday, dipping 1% to hover around $42,500. Bitcoin, while down 2.3% over the past five days, is still on track to end the year well into the green, currently sitting close to 160% higher year-to-date. 

Ether (ETH) also bounced following the Fed’s Federal Open Markets Committee meeting, and managed to sustain the rally into…

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Solana’s native token (SOL) gained 5.5% on Dec. 13, reclaiming the $72 support level. Over the past four days, it experienced a 16.7% correction, dropping from a high of $77.80 on Dec. 9 to a low of $63.75. The question is whether the factors driving this recovery will continue to support recent gains.

FED announcement and regulation talk fuel Solana’s rally

The rally in SOL was fueled by three factors, in addition to the U.S. Federal Reserve’s announcement on Dec. 13 of three interest rate cuts throughout 2024. Reduced returns on fixed-income investments are typically seen as bullish for risk-on assets like cryptocurrencies.

SOL token performance in USD, 12-hour chart. Source:… Read more on Cointelegraph

The Basel Committee proposed adjustments to banks’ exposure to crypto assets.

The standards were first published in December of last year. A comments period on the changes is open until March 2024.

“The requirements determine whether the stablecoins to which banks may be exposed will be eligible for inclusion in the Group 1b category of crypto assets, and thus benefit from a preferential regulatory treatment,” Basel wrote. 

The Basel Committee oversees global banking regulations and its membership includes a number of officials from central banks from all over the world.

Read more: Like crypto or not, central banks need to prepare, BIS innovate head says

Stablecoins that qualify…

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Today’s attack on crypto hardware firm Ledger was traced to an ex-employee who “fell victim to a phishing attack that gained access to their NPMJS account” in an email to Blockworks.

The code was then published to ConnectKit. A fix, according to Ledger, was deployed roughly 40 minutes after they were alerted but not before the malicious code was active for five hours.

The address was connected to a malicious code found in Ledger’s ConnectKit software libraries early Thursday. ConnectKit connects blockchain apps with Ledger devices. 

WalletConnect was able to disable the “rogue project.” Chainalysis posted the address and Tether CEO Paolo Ardoino said his team froze the…

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