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Lending platform Maker’s governance tokens soared to near one-year high prices last week prior to the sales.
Dogecoin price hits a two-month high amid speculations that Twitter’s rebrand to X would add a DOGE payment option.
Bitcoin is down to one-month lows, and BTC price predictions are tending to assume worse is to come — how much lower can bears manage?
PLUS: BTC's positive vibes may be waning as outflows from BTC investment products rose for the first time in weeks. But mining is in a better state than it was a year ago.
The U.S. central bank has been telegraphing its intent to renew rate hikes for weeks. ThePersonal Consumption Expenditures report arrives Friday, but cryptos and other risk-on assets have been largely immune to macro events.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Regulatory uncertainty surrounding Binance, the largest crypto exchange, tends to weigh on crypto prices.
Worldcoin price soared to $3.58 shortly after launching but traders and crypto advocates have many concerns.
MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
- 17:01Analyst: Fed's hawkish turn dangerous for economyThe Fed's tone reportedly became more hawkish last week. It expects inflation in 2025 to be higher than previously forecast and reduced the number of rate cuts it expects to make next year. Neil Datta, an analyst at Fuxing Macro, writes that in an economic environment that appears to be slowing down, the Fed could be put in an unfavourable position and subsequently revert to a more dovish stance. He suspects that anticipation of Trump administration policies - which Powell admits some Fed officials are now factoring in - will lead to changes in next year's forecasts, with the Fed ‘appearing to be taking precautions by slowing the pace of rate cuts for the potential tariff shocks.’ Datta writes: ‘Given that the potential momentum of the economy appears to have waned, this [approach] is dangerous.’
- 16:56Today's top 100 crypto tokens up and down: AAVE up 11.18 per cent, HYPE down 17.30 per centThe top 100 cryptocurrency tokens by market cap today, 23 December, performed as follows. Top 5 Gainers:Aave (AAVE) is up 11.18 per cent at $332.33;Curve DAO Token (CRV) is up 8.96% at $0.8532;Virtuals Protocol (VIRTUAL) is up 6.69 per cent at $2.53;FTX Token (FTT) is up 6.59 per cent at $3.16;Raydium (RAY) is up 5.20 percent to $4.53. Top five losers:Hyperliquid (HYPE) is down 17.30 percent at $26.25;Movement (MOVE) is down 6.97 percent at $0.7786;Dogwifhat (WIF) is down 4.82 per cent at $1.86;Worldcoin (WLD) is down 4.03 percent to $2.14;MANTRA (OM) is down 3.98 per cent at $3.51.
- 16:50Bitcoin May Retest $90,000 Support, $85,000-$86,000 Range a ‘Bottom Zone’ for Many: TradersOn 23 December, it was reported that the price of Bitcoin has continued to fall, dropping below the $94,000 mark. Although it reached a high of $99,500 over the weekend, it has since come under selling pressure and has retreated 15 percent from last week's record high. A number of trading analysts are cautious about the near-term trend. According to analyst Bitcoindata21, the volume-weighted average price (VWAP) support to resistance is underperforming, and it is expected that Bitcoin may pull back to $92,000, with the $85,000-$86,000 range becoming a ‘bottoming area’ for the bulls. According to CrypNuevo, the market is unlikely to see a V-shaped reversal and may retest the psychological support level of $90,000. Trader Jelle said that the current bitcoin price trend is similar to the end of 2023, and we can not rule out the possibility of falling below $ 90,000 this week, but we expect to return to the uptrend in 2025. From a macro perspective, market sentiment is cautious after the Federal Reserve released a hawkish policy statement last week, and the market expects only an 8.6 per cent probability of a rate cut at the next FOMC meeting, according to CME Group data. Analysts The Kobeissi Letter warned that the rebound in inflation could affect the process of the Fed's shift to accommodative policy. Other analyses point out that the tightening of global liquidity could have a negative impact on the performance of the bitcoin and cryptocurrency markets.
