At the time of writing, BTC price is trying to fall below 100 thousand dollars again. Profit sales were expected after the six-figure price, but we will see the extent of this in the coming hours. Cryptocurrency markets face the potential for greater volatility on the verge of a new weekend. So what’s the latest situation?
Bitcoin (BTC)
BTC price It was at $100,450 and today it turned down with profit sales after reaching $104 thousand. It is not surprising that the price, which has risen at a satisfactory rate for short-term investors, has consolidated and experienced a certain amount of withdrawal. However, it is important how this will affect altcoins. If the BTC price makes a new attempt at $97,000 or below, this may not produce good results as volumes weaken over the weekend.
On the other hand, the December 18 Fed interest rate decision is approaching. About 2 weeks later Powell will explain the reasons along with the new interest rate decision. The expectation for this year was that there would be a 100bp interest rate cut, and a 75bp interest rate cut has already been made. However, some members say that there may be a pause in discounts due to the high October inflation data and the recovery of labor force data.
Even if the Fed pauses, there is no reason to panic as it will want to see sharp increases in inflation data for a few months in order to increase interest rates again. Markets may lose some of their excitement in case a decision is made to pause discounts on December 18. Because there is more than a month until the next big event, January 20, when Trump takes office.
Cryptocurrencies Latest Status
Volumes are at desired levels. cryptocurrency The total volume of the markets exceeded 353 billion dollars. There were periods in the middle of last year when we saw a total daily volume of 14 billion dollars, and the increase in volume is also promising for altcoins. Market dominance has loosened slightly for BTC and ETH is struggling to anchor above $3,800.
While the total market value of cryptocurrencies broke its new record of over 3.65 trillion dollars, the fear index is at 84. The most profitable altcoins of the day among the 100 largest cryptocurrencies JASMYSUI, WLD, RENDER, PNUT. They increased between 12% and 40%.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
