Daily Market Update (December 21, 2024, 20:10)
ChainDD market data for December 21 shows a composite index alongside CoinMarketCap quotes:
BTC is priced at $98,243.29, with a 24-hour increase of about 5.50%;
ETH is priced at $3,440.85, with a 24-hour decrease of about 10.65%;
BNB is priced at $676.96, with a 24-hour increase of about 8.06%;
DOGE is priced at $0.3355, with a 24-hour increase of about 26.1%;
DOT is priced at $7.42, with a 24-hour increase of about 21.35%.
Crypto Market Updates
Market turmoil during the Christmas season may impact U.S. stocks and bonds, and a lack of liquidity will amplify market movements.
This week, the Federal Reserve finally confirmed the long-awaited 'pivot' in the market, and the central bank's statement and updates on economic forecasts had a huge impact on the market. Market participants currently expect the Federal Reserve to cut interest rates by about 40 basis points by December 2025, causing U.S. Treasury yields to rise accordingly. Earlier this week, Bitcoin fell from its historical highs, and on Friday, during the European trading session, Bitcoin continued to decline, coming close to $95,000 at one point. Earlier, Bitcoin had just set a new all-time high of over $108,000. The recent decline in the crypto market has had a greater impact on altcoins like Ethereum and Dogecoin. Additionally, U.S. exchange-traded funds (ETFs) that invest directly in Bitcoin also ended a streak of 15 days of inflows this week, recording an outflow of $680 million, highlighting a shift in market sentiment. With Christmas approaching, the market is expected to be relatively calm next week, although there are still some influential data points. However, due to thin liquidity, market volatility may become significant.
Here are the key points the market will focus on in the new week: Monday 23:00, U.S. Conference Board Consumer Confidence Index for December; Thursday 21:30, Initial Jobless Claims for the week ending December 21. For the dollar, with the overall hawkish stance within the Federal Reserve, it is expected that the dollar will not easily lose its throne gained this year, although low trading volume during the holiday season may trigger some unnecessary volatility. Overall, if any market turmoil occurs during the holiday season, it is more likely to impact U.S. stocks and bonds. The Federal Reserve's hawkish stance has not been welcomed by Wall Street, and as U.S. Treasury yields continue to rise, selling pressure may intensify.
The Trump family's crypto project WLFI has shown a rebound in holdings over the past 24 hours, with ENA increasing by 37.9% in 24H.
According to Coingecko data, in the past 24 hours, the price of tokens held by the Trump family's crypto project WLFI has shown a rebound, among which:
• ENA: 24H increase of 37.9%, currently priced at 1.18 USDT;
• ONDO: 24H increase of 22.0%, currently priced at 1.82 USDT;
• LINK: 24H increase of 17.5%, currently priced at 23.84 USDT;
• AAVE: 24H increase of 16.9%, currently priced at 322.02 USDT;
• ETH: 24H increase of 10.5%, currently priced at 3,447.61 USDT;
Last week, the trading volume of NFT collectibles reached $304 million, with Ethereum NFTs increasing by 76%.
According to CryptoSlam data, last week the trading volume of Ethereum NFTs increased by 76% compared to the previous week, with sales reaching $201 million, accounting for 66% of all NFT sales in the past seven days. Sales of Bitcoin-based NFTs totaled $40 million, while sales of Solana-based collectibles reached $29 million. The weekly trading volume of Mythos Chain, Immutable, Polygon, and BNB Chain totaled $25.9 million. This week's trading volume also exceeded the NFT sales record of $296 million in September, when the monthly trading volume of digital collectibles was at its lowest since 2021.
BTC fell below 98,000 USDT, with the 24H increase narrowing to 4.71%.
OKX market shows that BTC broke through 99,000 USDT, currently priced at 99,024.5 USDT, with a 24H increase of 0.98%.
