The cryptocurrency market has once again faced a correction. Bitcoin (BTC) has fallen to the $102,000 level. The global crypto market cap has dipped 4.5% in the previous 24 hours to $3.66 trillion. The crypto market has struggled to gain momentum over the last few weeks. Many anticipated Donald Trump’s inauguration to trigger a market-wide rally. That expectation has not come to pass.
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The Cryptocurrency Market Continues Its Struggle
The latest dip could be due to Trump’s crypto ventures being called into investigation by Democrat Representative Gerald Connolly. Connolly called on the US House Committee on Oversight and Government Reform’s Republican chair, James Comer, to investigate whether Trump’s cryptocurrency ventures conflict with his presidential duties.
The cryptocurrency market faced another dip earlier this month after US jobs data came in stronger than expected. The development cast a shadow on the expectation of an early interest rate cut.
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Top 3 Cryptocurrencies To Watch This Weekend
1. Dogecoin (DOGE)
The Department Of Government Efficiency (D.O.G.E.) has commenced work with Elon Musk at its head. Musk is one of the most significant DOGE fans globally. His involvement with the new department could lead to the meme cryptocurrency witnessing a surge in popularity.
2. Ripple (XRP)
XRP has experienced quite a rally over the last few weeks. The asset breached the $3 mark for the first time in nearly seven years. The cryptocurrency may continue its upward momentum for the foreseeable future.
3. Official Trump (TRUMP)
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TRUMP is the official cryptocurrency launched by Donald Trump. The coin has faced a correction over the last few days after the investigation that was called into Trump’s crypto ventures. The asset should be on your watchlist, regardless if you hold it or not.
