Monday, December 15, 2024
Over the weekend, Bitcoin fluctuated in the range of $42.5k - $43.2k. Last night, it briefly dipped below $42.0k, a drop that was quickly bought up, leading the leading cryptocurrency to return above $42.5k.
The market capitalization stands at $1.63 trillion, with Bitcoin's dominance index around 51.1%. Altcoins are generally holding up well, but Ethereum shows weakness - it dipped below $2.5k, which was bought up, but not very confidently so.
Among altcoins, Link, TON, XAI, and AI are on the rise. The Fear and Greed Index has fallen to lows not seen since October 2023, indicating that some market participants are feeling fear, uncertainty, and the desire to sell assets and move into stablecoins, and in particularly severe cases, to open shorts. All this is good for further growth.
The U.S. stock market is closed today. Asian indices are in the green, and the dollar index is slightly above 102.
This week, inflation data for Germany, the EU, Canada, and the UK will be released. If all show growth, it will be an unexpected negative for the stock markets.
Also this week, the World Economic Forum will take place in Davos. Discussions will focus on inflation, rates, and a closed meeting of central bank heads. But in addition to all this, the agenda includes a discussion on a certain "Disease X", which, according to WHO, could cause 20 times more deaths than coronavirus.
Sounds like plans for the future. Apparently, both the virus and the vaccine are ready, time to launch?!
Trading in Bitcoin ETFs will open on Tuesday. How they will affect the market in the coming week, we'll see.
Movements around GBTC stocks - a factor in short-term decline.
Increasing volumes in Bitcoin ETFs from new investors - a factor in medium-term growth.
How well the first factor will work and how long it will last is unknown. But the effect of the second factor, and other global reasons for the growth of Bitcoin, are inevitable. So we wait for the fulfillment of the year's plans - reaching $50.0k, followed by a new ATH.
