#ChristmasMarketAnalysis In December, the cryptocurrency market has experienced notable volatility, influenced by various macroeconomic factors and decisions from central banks. This includes meetings of the U.S. Federal Reserve (FED), the Bank of England (BoE), and the Bank of Japan (BoJ) which have been crucial. The FED closed the year with a 25 basis point cut, while BoE and BoJ kept rates unchanged.
On the other hand, the price movements where
#BTC started the week at $104,400 and closed at $95,000, a drop of 8.8%.
#Ethereum #ETH also suffered, starting at $3960 and closing at $3280, with a low of $3080, the lowest in five weeks.
But despite the evident setback this week, the dominance of
#BTC has been very significant during this period with an increase of 60%, reflecting its dominant position in the market.
Finally, economic factors, such as the U.S. personal consumption expenditures (PCE) index, also played an important role. Although the PCE increased compared to the previous month, its announcement below expectations helped ease selling pressure and initiate a short-term increase.
Overall, this Christmas season has been about adjustments and reactions to global economic policies, with investors making strategic decisions before the holidays and the year's end.