Bitcoin
BTC$41 749.04

-0.96%

Ethereum
ETH$3 107.55

-2.35%

Tether
USDT$1.000260

0%

Binance Coin
BNB$463.81

-1.39%

Cardano
ADA$1.41

-9.98%

USD Coin
USDC$1.000028

0.01%

FOMC helped Cryptos to hold important levels


16 Dec 2021

#Bitcoin

Over the past 24 hours, total crypto market capitalisation rose by 2.1% to $2.24 trillion, recovering to the levels at the start of the week. Yesterday, the figure was close to the $2.0 trillion mark, but demand for risk assets recovery supported cryptos, providing around a 12% rise from the bottom to peak in the following four hours. On balance, the cryptocurrency fear and greed index reclaimed another point, rising to 29.

The bulls seem to be putting in the necessary minimum effort to keep the positive picture on the charts of the major cryptocurrencies. But there isn’t much more to do now. Bitcoin is up 1.2% in the last 24 hours, trading at $48.7K. The bulls managed to push BTCUSD into the area above the 200-day moving average but are not getting away from it.

Etherereum is adding 3.5%, clinging to the $4K. The strong market reaction after the FOMC pushed ETHUSD above this round level, but we saw some selling pressure in the morning. Short-term traders should closely watch whether the former support has turned into resistance.

The pair of major cryptocurrencies appear to have been supported by a general increase in risk appetite in the markets following the FOMC announcements. However, investors should keep in mind that this upward move in traditional financial markets was more of a “buy the rumours, sell the facts” style reaction. Fundamentally, news about the faster QE tapering and greater willingness to raise rates has already been priced in during previous weeks.

But at the same time, long-term investors should not lose sight of the natural tightening of financial conditions because of these moves, which will slowly but persistently reduce demand for risky assets. The main risk for the crypto market is that we have seen a monetary regime switch in the last couple of months, which promises to take some of the demand for crypto away.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 70% 61 $41 749.04 -0.96% -2.23% $790 453 361 790 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64% 76 $3 107.55 -2.35% -3.81% $370 476 531 837 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.8% 1 $1.000260 0% 0% $78 334 923 878 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 70.8% 60 $463.81 -1.39% 0.81% $76 582 253 416 BNB 7 days price change
5 Cardano (ADA) ADA Cardano predictions 74.8% 52 $1.41 -9.98% 15.51% $47 135 872 405 ADA 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000028 0.01% 0.01% $45 771 583 757 USDC 7 days price change
7 Solana (SOL) SOL Solana predictions 59.6% 81 $138.20 -0.72% -1.34% $43 415 887 597 SOL 7 days price change
8 XRP (XRP) XRP XRP predictions 68% 65 $0.744850 -1.78% -2.74% $35 501 894 147 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 70.8% 57 $77.86 1.82% 6.62% $27 858 054 525 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 76.4% 51 $24.41 -3.53% -5.01% $24 106 148 388 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 75.6% 45 $0.165854 -1.97% 8.30% $22 004 010 108 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 61.2% 79 $84.62 -1.78% -6.50% $20 677 495 490 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 67.6% 63 $0.000028 -2.77% -1.99% $15 311 534 426 SHIB 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 68.8% 59 $2.08 -5.03% -11.73% $15 177 274 162 MATIC 7 days price change
15 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $0.999760 -0.01% -0.11% $14 211 985 142 BUSD 7 days price change

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