Bitcoin
BTC$19 108.68

-0.12%

Ethereum
ETH$1 051.12

-1.09%

Tether
USDT$0.999042

0%

USD Coin
USDC$1.000039

-0.01%

Binance Coin
BNB$216.74

-0.87%

Binance USD
BUSD$1.001586

0.07%

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 60.8% 88 $19 108.68 -0.12% -10.44% $364 683 630 223 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 55.2% 93 $1 051.12 -1.09% -14.27% $127 610 536 230 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.2% 1 $0.999042 0% -0.04% $66 018 262 534 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000039 -0.01% 0% $55 804 793 378 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 61.6% 75 $216.74 -0.87% -9.37% $35 388 059 426 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $1.001586 0.07% 0.28% $17 575 061 690 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 64.8% 69 $0.317499 1.53% -12.57% $15 348 864 758 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 63.6% 71 $0.448366 -0.36% -10.65% $15 214 866 694 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 67.2% 70 $32.77 -0.23% -19.15% $11 253 894 583 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 67.6% 62 $0.066138 0.06% -13.89% $8 774 635 420 DOGE 7 days price change
11 Dai (DAI) DAI Dai predictions 90.8% 1 $1.000043 -0.04% 0% $6 895 987 122 DAI 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 65.6% 67 $6.72 -0.01% -16.62% $6 636 204 716 DOT 7 days price change
13 TRON (TRX) TRX TRON predictions 65.2% 74 $0.065733 3.58% -3.47% $6 079 571 196 TRX 7 days price change
14 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 71.2% 54 $5.87 2.64% -0.14% $5 604 429 157 LEO 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 71.6% 63 $0.000010 0.62% -13.36% $5 523 555 766 SHIB 7 days price change

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