The Crypto Market Analysis
Overview
- The crypto market experienced a downward trend last week.
- Yearly profit-taking by institutions and the Fed’s hawkish stance contributed to the price declines.
- Open Interest in major cryptos declined over the week.
Bitcoin Analysis
Bitcoin’s price dropped from $108,372 to $92,555 before closing the week at $97,700.
Open Interest at the CME decreased along with the price.
The Fed’s decision to slash rates and the uncertainty around future plans impacted Bitcoin’s price.
Bitcoin saw outflows of $948.90Mn on Dec. 19 and 20.
Current Bitcoin price stands at $95,700.
Ethereum Analysis
Ethereum’s price fell from $4,108.82 to $3,098.40 before closing at $3,470.44.
Ethereum’s spot ETF inflows mirrored Bitcoin’s pattern.
Ethereum is currently trading at $3,330.78.
Solana Analysis
Solana’s price declined after failing to break its all-time high of $260.02.
Last week, Solana closed at $194.44 after reaching a low of $175.12.
Solana’s current price is $184.82.
Ripple Analysis
Ripple’s price fluctuated between $1.89 and $2.90, with lower lows within this range.
Ripple closed at $2.27 after hitting a low of $1.95 during the week.
Ripple is currently trading at $2.21.
