We’re back from the Christmas break and Binance is still alive and kicking, though the good news ends about there.
Global cryptocurrency market capitalisation is skirting the US$800bn price point, having briefly dipped lower in the early Wednesday trading hours.
It’s not the first time to happen this year, but with three days to go, it might not be the last either.
Bitcoin (BTC) simply cannot get any bearish momentum, probably due to investors clocking out for the rest of the year.
As such, we shouldn’t expect the BTC/USDT pair to move too far either way from its current position of US$16,670.
Ho ho h’oh well… BTC/USDT stays below US$17,000 – Source: currency.com
Ethereum (ETH) dipped below the key US$1,200 support line today. Further bear pressure could see the ETH/USDT pair cut back to US$1,180, while the bulls will attempt to reclaim US$1,200.
Losses were more pronounced among some big cap altcoins, notable Dogecoin (DOGE)’s 5% dip in the past 24 hours and Solana (SOL)’s nearly 10% tumble.
Today’s other big losers include Terra Classic (LUNC), Lido (LDO) and Chain (XCN).
Barring a miracle, we shouldn’t expect anything more than a sideways trade for the rest of 2022.
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