The past few days the market was on fire, there were a lot of fluctuations with some rumors and strong movements from whales, and all of this made many investors worried. Let's summarize the most important things that happened.
Sudden market decline and its causes
On December 19, most currencies suffered a major decline, due to the US Federal Reserve’s decision to reduce interest rates by a small percentage (a quarter of a percentage point), but expectations say that the cuts will not continue in 2025, as some people were expecting.
Whales are playing in the market
In the midst of this decline, whales started making a noticeable move. The data revealed that they bought around 71,000 Bitcoin, which was clearly an attempt to control the market and push prices higher. At the same time, there were massive Ethereum sell-offs on certain platforms, which increased the volatility even more.
Rumors heated up the market.
Rumors were running rampant, the most important of which was that a large investment company, backed by the Trump family, was entering the market and would buy huge amounts of Ethena Crypto (ENA). This rumor made the market move a bit after the drop. There was also talk that governments would increase control over stablecoins, which affected investors and made them anxious.
Bitcoin BTC is, as always, the most important currency, and we have seen large purchases on it.
Ethereum ETH Despite the decline, it still attracts people because of its advanced technologies and applications
Cardano ADA is relatively stable, which is a big advantage in times like these.
Solana SOL has performed positively compared to other currencies.
Dogecoin DOGE is still popular, especially for investors looking for cheap coins.
Today things started to improve a bit. Bitcoin, for example, rose by a reasonable percentage after it had fallen sharply, and this was evidence that the market is trying to regain its balance.
It is expected that the market will continue its fluctuations until the end of the year due to the global economic conditions and the rumors that appear every now and then.