- Despite a market-wide worth decline in the beginning of final week, the crypto market recovered as Bitcoin closed the week at $102,800.
- Bitcoin has now reached a brand new all-time excessive of $106,000.
- Meanwhile, US spot crypto ETFs proceed to log consecutive optimistic days of inflows.
Bitcoin
Bitcoin has logged new highs of $106,400 since its dip final week to $94,000, pushed largely by optimistic ETF inflows as US spot Bitcoin ETFs document one other week of consecutively optimistic each day inflows.
From Dec. 9 to Dec. 13, $2.17 billion flowed into the highest 10 US spot BTC ETFs.
Current worth motion reveals Bitcoin has damaged its earlier excessive of $104,000 and trades at $104,500 after reaching a brand new excessive of $106,600.
The Fed fee coverage choice arising on Dec. 18 might considerably affect worth motion. Expectations are hawkish with extra managed slashes shifting into subsequent 12 months, which might negatively affect dangerous belongings like Bitcoin.
Price technicals help a hawkish stance as Bitcoin’s price might push downward to seize liquidity at decrease ranges round $100,000.
Ethereum
The second-largest crypto rebounded from a weekly low of $3,500 to an area excessive of $4,000. Unlike Bitcoin, it has not damaged the earlier excessive fashioned on the $4,100 stage.
Meanwhile, Ethereum spot ETF inflows remained optimistic all through final week, totalling $854.8 million.
Ethereum trades at $3,950 on the time of publishing.
Solana
Unlike Bitcoin and Ethereum which have rebounded since final week, Solana’s price has declined since failing to shut above its all-time excessive of $260 on the each day timeframe.
Price motion on intermediate time frames (H4/H1) reveals rejection and sells from native provide zones which can proceed till a logical demand zone at $160. Solana’s worth might want to break above $247 on the H4 and ultimately shut above the all-time excessive on the each day timeframe to renew its bullish movement.
Solana trades at $214 on the time of publishing.
Ripple
Ripple’s price motion has been extremely bullish following its authorized wins and anticipated adjustments to the US regulatory panorama. The crypto surpassed its former all-time excessive of $1.99 and fashioned a brand new ATH of $2.90 on Dec. 3.
More latest worth motion reveals a pullback from highs as the worth fashioned a brand new native provide zone, rejected, and offered from it. A continuation of the present development would see worth take liquidity on the $1.90 stage whereas a reversal would see worth break above $2.65.
Ripple trades at $2.36 on the time of publishing.
