Crypto Weekly (Dec 16 - Dec 22): Bitcoin Peaks and Then Experiences Sharp Correction

Table of Contents

Crypto Market Last Week

The final days of the year brought intense volatility to the crypto market. Last week began with optimism as Bitcoin continued its rally, breaking records by climbing from $103,000 to a new all-time high (ATH) of $108,400. However, after hitting this peak, Bitcoin experienced a sharp correction, plunging to $92,400. At present, Bitcoin is trading around $94,000.

Although the Federal Reserve (Fed) announced a 0.25% interest rate cut, its hawkish tone weighed heavily on market sentiment, causing a broad sell-off. Notably, Bitcoin ETFs recorded the largest outflow in history, totaling $672 million in just one day.

The steep correction in Bitcoin led to significant declines in altcoins. Many altcoins lost up to half their value from recent peaks, with some returning to their price levels at the start of the year, despite Bitcoin surpassing the $100,000 milestone.

Top 10 Gainers of the Week

Top 10 Losers of the Week

Highlighted News

Crypto Market This Week

Token Unlock Schedule

This week, the market faces a series of major token unlock events, with a total value of $93.01 million from notable projects, including:

$IMX (1.45%) – $35.06 million
$ADA (0.05%) – $16.37 million
$ENA (0.44%) – $12.86 million
$YGG (3.43%) – $7.14 million
$EIGEN (0.61%) – $5.47 million
$FET (0.13%) – $4.48 million
$AGIX (2.35%) – $4.41 million

Macroeconomic News

This week is a holiday period, so significant news is limited. However, investors should remain cautious as year-end is typically a time for profit-taking.