ETH Drops Over 30%. Did the Trump Family Know When to Buy?
Between December 19 and 20, the crypto market plunged once again. Bitcoin fell below the $93,000 mark, while ETH lost 30% over a few days, declining from $4,100 to nearly $3,100. The last time ETH reached this price was a month ago.
On this page
Between December 19 and 20, the crypto market plunged once again. Bitcoin fell below the $93,000 mark, while ETH lost 30% over a few days, declining from $4,100 to nearly $3,100. The last time ETH reached this price was a month ago.
This sharp downturn followed a U.S. Federal Reserve meeting where Chair Jerome Powell made hawkish remarks regarding potential monetary policy for 2025. He notably stated that the central bank is “not allowed to own bitcoin.”
Related: Fed Says It’ll Slow Rate Cuts—Markets React Badly
ETH/USDT chart, Dec 16–20. Source: WhiteBIT
On December 19, U.S. spot Bitcoin ETFs recorded the largest net outflow in history, totaling approximately $680 million, according to SoSoValue. In comparison, U.S. spot Ethereum ETFs saw a smaller net outflow of ~$60.47 million.
Even the announcement of approval for combined spot Bitcoin and Ethereum ETFs—a development we previously covered—did not prevent the continued decline of the crypto market.
However, by December 20, the market began to show signs of recovery. At the time of writing, BTC had surpassed the $97,000 mark, while ETH climbed back above $3,350.
Interestingly, as the market steadied (at least for BTC and ETH), World Liberty Financial, a project reportedly connected to Donald Trump's family, made headlines. According to Lookonchain’s post on X, the project exchanged 2.5 million USDC for ETH during this period.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
