Cryptocurrency Summary
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Bitcoin and other cryptocurrencies are currently experiencing significant market fluctuations. Bitcoin has dropped to $86,000, with over $2.78 billion in selling pressure from large holders, known as whales, overwhelming active dip buyers, as noted by Cointelegraph.
The market is also feeling the impact of caution as the year draws to a close, with Bitcoin, Ether, and XRP extending their losses amidst concerns about monetary policy and AI stock performance. UK law enforcement and financial experts are warning of rising crypto scams, particularly as the holidays approach, which are contributing to million-dollar losses in Austin, Texas.
Meanwhile, Ripple is making strides with its RLUSD pilot on Ethereum Layer 2 solutions, and MetaMask has introduced Bitcoin support, following months of anticipation. Despite the bearish market sentiments, Grayscale predicts Bitcoin could hit a new all-time high within six months, showcasing the ongoing volatility and speculative nature of the cryptocurrency landscape.