Market Analysis: Bitcoin, Ethereum, Solana, Ripple
Bitcoin
- Bitcoin closed the week at $102,800 after a market-wide price decline at the start of the week.
- New all-time high of $106,000 reached by Bitcoin.
- US spot crypto ETFs continue to see positive daily inflows.
Bitcoin has surged to $106,400 following a dip to $94,000, driven by positive ETF inflows. In the period from Dec. 9 to Dec. 13, $2.17 billion flowed into the top 10 US spot BTC ETFs. The current price stands at $104,500, with a new high of $106,600.
The upcoming Fed rate policy decision on Dec. 18 could impact price action, with expectations leaning towards a hawkish stance. Technical analysis suggests a potential push downward to gather liquidity around $100,000.
Ethereum
- Ethereum rebounded from a low of $3,500 to a high of $4,000.
- No new high above $4,100 for Ethereum.
- Positive spot ETF inflows totaling $854.8 million for Ethereum.
Current Ethereum price is $3,950, showing resilience compared to Bitcoin’s surge. The price has not surpassed the previous high of $4,100. Spot ETF inflows remained positive throughout the week.
Solana
- Solana’s price has declined post-failure to close above the all-time high of $260.
- Rejection and selling pressure from local supply zones for Solana.
- Price at $214 for Solana at the time of publishing.
Solana’s price action indicates a need to break above $247 on the H4 timeframe to resume bullish momentum. A logical demand zone at $160 may be targeted if the current trend continues.
Ripple
- Ripple surpassed its former all-time high of $1.99 to reach $2.90.
- Recent pullback from highs for Ripple.
- Price at $2.36 for Ripple currently.
Ripple’s price action has been bullish following legal wins and regulatory changes in the US. A pullback from recent highs suggests a potential liquidity grab at $1.90, while a reversal could see a break above $2.65.
