Market Wrap: Altcoins Underperform as Bitcoin Dips Below $48K

Posted on by American Coins & Gold

Market Wrap: Altcoins Underperform as Bitcoin Dips Below K
Bitcoin was trading around the lower end of its weeklong range as bullish sentiment began to fade. BTC is down about 7% over the past 24 hours compared with a 10% drop in ether and a 12% decline in Solana’s SOL token over the same period.Recent declines across cryptocurrencies has some analysts concerned about near-term price direction, especially ahead of the U.S. Federal Reserve Open Market Committee (FOMC) meeting Dec. 14-15. Market participants expect the central bank to accelerate the pace of asset purchases, which could cause some investors to reduce their exposure to speculative assets including equities and cryptocurrencies.Tighter…