Posted 1/31/2024, 1:11:00 PM
Bitcoin Slips Below $43K as Solana and Altcoins Sink; NFTs Outpace Ethereum While Fed Rate Cut Hopes Offer Support
- Bitcoin drifted around $42,500, down 2.25% in 24 hours after dipping below $43,000 during Asian trading
- Solana's SOL, Cardano's ADA, and Avalanche's AVAX were among the biggest decliners, down between 5-7%
- NFT indexes rose almost 10% in January while ether gained just over 2% as traders hunt for utility
- Jupiter to unveil native token at 10am EST with initial circulating supply of 1.35 billion and potential $700 million market cap
- U.S. core inflation measures dropped below Fed's 2% target, strengthening case for rate cuts which could benefit bitcoin