Bitcoin
BTC$27 117.78

1.52%

Ethereum
ETH$1 850.21

1.08%

Tether
USDT$1.000333

-0.01%

Binance Coin
BNB$308.85

0.69%

USD Coin
USDC$1.000039

-0.01%

XRP
XRP$0.472955

1.16%

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 83.6% 19 $27 117.78 1.52% -0.23% $525 695 120 933 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 94% 5 $1 850.21 1.08% 1.69% $222 500 512 215 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000333 -0.01% -0.01% $83 154 797 365 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 90.8% 4 $308.85 0.69% -0.59% $48 135 911 381 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $1.000039 -0.01% -0.01% $29 066 829 891 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 82% 25 $0.472955 1.16% 0.70% $24 585 809 728 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 85.6% 20 $0.372773 2.47% 1.84% $12 999 954 414 ADA 7 days price change
8 Lido stETH (STETH) STETH Lido stETH predictions 93.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 84.4% 31 $0.072941 2.45% -1.13% $10 177 041 648 DOGE 7 days price change
10 Polygon (MATIC) MATIC Polygon predictions 72% 56 $0.929847 1.84% 6.19% $8 628 490 910 MATIC 7 days price change
11 Solana (SOL) SOL Solana predictions 77.2% 38 $20.64 6.40% 1.71% $8 178 958 995 SOL 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 81.2% 33 $0.077433 2.29% 6.74% $7 873 132 353 WTRX 7 days price change
13 TRON (TRX) TRX TRON predictions 80.8% 33 $0.077698 3.03% 7.15% $7 014 264 945 TRX 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 77.6% 35 $89.78 2.68% -2.62% $6 555 157 361 LTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 88% 22 $5.38 2.54% -0.52% $6 392 787 042 DOT 7 days price change

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