🔊Weekly Market Highlights #129: December 16 - December 22

✨The cryptocurrency market faces significant liquidations as Bitcoin plummets to $92K following the Federal Reserve's rate adjustments and hawkish remarks by the Fed Chairman.

✨Over the past week, the crypto market total capitalization decreased by ~$477B (from ~$3735B to ~$3258B).

✨BTC’s Short-Term Recovery
✅The week started impressively for BTC, with its price surging from $101K to a new all-time high of over $108K by Tuesday. However, Wednesday's momentum took a sharp turn following the latest US Federal Open Market Committee (FOMC) meeting.

✅BTC underwent a steep correction, culminating in a price drop to approximately $92K by Friday—marking a loss of over $16K within just 72 hours.

✅At this point, the bulls slowed the decline, helping BTC recover to $95K. The rally continued into Saturday morning, with the price climbing to $99,6K. Just as the community anticipated a potential breakthrough above the six-digit mark, BTC’s trajectory reversed. The price began to decline again, ultimately falling to just under $95K.

✅The 15-day streak of net buying ended abruptly, and U.S. Bitcoin ETFs registered the largest outflow in history, surpassing $671.9M and breaking the previous record of $564M set on May 1.
source: LINK

✨Alts Back in Red
✅The Total 2 index experienced significant fluctuations throughout the week, beginning at $1.59 trillion on Monday, plunging to a low of $1.22 trillion (-23.2%), and recovering to $1.33 trillion at the time of writing. This indicates that most altcoins have mirrored Bitcoin's sharp decline over the week.

✅At a December 13 conference, former Thai Prime Minister Thaksin Shinawatra revealed that Thailand is considering using BTC as a legal means of payment to advance its digital economy.
source: LINK

✅Total 2 Index (Marketcap excluding BTC) is now at $1325B

✨Bitcoin Fear and Greed Index is 70 - Greed, lower than at the beginning of the week (83)

✨Dominance:
✅BTC: 57.2%
✅ETH: 12.2%

📣See you next week!

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