I think downtrend will be start soon!! | Kishan Mithapara on Binance Square

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Kishan Mithapara

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I think downtrend will be start soon!!

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Kishan Mithapara

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The crypto market today shows the following highlights: 1. Bitcoin (BTC): Stable around $73,000, supported by institutional interest and ETF approvals. 2. Ethereum (ETH): Growing due to activity in DeFi and NFTs. 3. Altcoins: Solana (SOL) and Cardano (ADA) are gaining traction for scalability and eco-friendliness. Ripple (XRP) is expanding in cross-border payments. 4. Overall Sentiment: Positive, with institutional adoption and regulatory clarity boosting confidence.

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As of mid-December 2024, the cryptocurrency market is displaying diverse trends: 1. Market Overview: The total crypto market capitalization stands at $3.73 trillion, with Bitcoin ($BTC ) priced at $95,528 and Ethereum ($ETH ) at $3,822. Bitcoin is up nearly 120% year-to-date, driven largely by increased institutional interest and spot Bitcoin ETFs. Ethereum has also gained over 55% this year. 2. Institutional Activity: Bitcoin and Ethereum ETFs are experiencing significant inflows, with Bitcoin ETF assets reaching $104 billion and Ethereum's at $11 billion. Major players like BlackRock and Grayscale are leading the ETF space. 3. Altcoins: Among altcoins, Solana ($SOL ) has gained 125% year-to-date, trading at $229. Other notable assets include XRP at $2.52 and BNB at $758. Stellar (XLM) is gaining attention ahead of a mainnet upgrade, currently holding steady above $0.41. 4. Derivatives and Futures: The derivatives market shows robust activity, with $130 billion in open interest, split nearly evenly between longs and shorts. This indicates healthy participation across market segments. Looking ahead, Bitcoin is expected to test the $100,000 mark by year-end, which could spark rallies across other cryptocurrencies. However, the market remains sensitive to macroeconomic factors and regulatory developments. #WeAreAllSatoshi #BURNGMT #CPIUpdatedecember #TrendingNow

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