Jerome Powell

Chair

April

Million

Shiba Inu

The number of “buy the dip” mentions on social media platforms has reached its highest level since April after the crypto market cap plunged 6% and meme coins shed more than 9% of their value in the last 24 hours. 
“With Bitcoin falling as low as $95.5K today, the ratio of crypto discussions that are about buying crypto’s dip has reached its highest level in over 8 months,” said the on-chain analytics firm Santiment in a Dec. 19 X<a href="https://x.com/santimentfeed/status/1869897286714794268"> post</a>. “The last time we saw the crowd nearly this enthusiastic about dip buying was the major crash on August 4th. Since that time, Bitcoin’s market cap is +81% higher.” 
<img decoding="async" src="https://image.cnbcfm.com/api/v1/image/107390704-1711024718970-gettyimages-2070072683-economou-notitle240310_npNsE.jpeg?v=1721936490&amp;w=1858&amp;h=1045&amp;vtcrop=y" alt="Bitcoin extends its slide to start May, falling to $57,000 as Fed leaves rates unchanged"> 
<h2 id="span-style-font-weight-400-bitcoin-drags-crypto-market-down-after-falling-below-100k-span">Bitcoin Drags Crypto Market Down After Falling Below $100K</h2> 
Crypto market leader <a href="https://insidebitcoins.com/news/bitcoin-slides-but-crypto-all-stars-raises-1-million-in-a-day-only-24-hours-before-presale-ends">Bitcoin</a> (BTC) dropped below $100K in the last 24 hours, and has since been unable to recover. As of 1:34 a.m. EST, the largest crypto by market cap trades at $96,490.59, which marks a more than 4% price decrease compared to the day before. 
The pull back in BTC’s price comes after US Federal Reserve Chair Jerome Powell said the central bank will maintain a <a href="https://insidebitcoins.com/news/bitcoin-plunges-then-reclaims-100k-amid-fed-caution-on-rate-cuts-as-meme-coins-tumble">cautious</a> stance on rate cuts in 2025. He also said that the Federal Reserve is not allowed to hold BTC, which poses a challenge to President-elect Donald Trump’s plans to create a strategic Bitcoin reserve. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Federal Reserve Chair Jerome Powell says the Fed is "not allowed to own Bitcoin" 
 They weren't allowed to own Corporate Bonds before Covid either. 
 Rules change… 😉 <a href="https://t.co/3UBBUuKtdF">pic.twitter.com/3UBBUuKtdF</a> 
 — Bitcoin Archive (@BTC_Archive) <a href="https://twitter.com/BTC_Archive/status/1869503363970425201?ref_src=twsrc%5Etfw">December 18, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Crypto investor sentiment subsequently took a knock, with the market’s overall <a href="https://www.coingecko.com/">valuation</a> sliding more than 6% in the past 24 hours.&nbsp; 
<h2 id="span-style-font-weight-400-meme-coins-could-be-the-best-opportunity-to-buy-the-dip-span">Meme Coins Could Be The Best Opportunity To Buy The Dip</h2> 
Meme coins were among the biggest 24-hour losers in the market, with their combined capitalization plunging over 9%. Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE), the largest meme coins by market cap, all saw their prices plummet more than 10% in the last 24 hours. 
Sudeng (HIPPO) suffered the biggest 24-hour loss in the lighthearted sector of the crypto market. After a 21% correction, the crypto’s weekly performance has been pushed deeper into the red zone. 
<h3 id="span-style-font-weight-400-related-articles-span">Related Articles:</h3> 
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 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/viral-meme-coin-catslap-will-burn-1-million-in-slap-tokens-on-december-20th-price-surge-expected">Catslap Will Burn $1 Million In SLAP Tokens On December 20th</a></li> 
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/is-it-too-late-to-buy-fartcoin-fartcoin-soars-38-and-this-might-be-the-next-crypto-to-explode">Fartcoin Price Soars 38%, But Traders Rush To Buy This Meme Coin </a></li> 
</ul>

“Buy The Dip” Mentions Soar To 8-Month High Amid Crypto Crash

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