Bitcoin
BTC$38 281.21

3.92%

Ethereum
ETH$2 065.11

3.45%

Tether
USDT$1.000098

-0.01%

Binance Coin
BNB$231.06

3.14%

XRP
XRP$0.613097

2.66%

Solana
SOL$58.57

8.36%

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 93.2% 7 $38 281.21 3.92% 3.56% $748 612 292 370 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 76.8% 50 $2 065.11 3.45% 3.57% $248 316 611 354 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000098 -0.01% -0.03% $88 907 587 724 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 82.4% 27 $231.06 3.14% -4.60% $35 052 092 099 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 78% 42 $0.613097 2.66% 2.30% $32 995 027 019 XRP 7 days price change
6 Solana (SOL) SOL Solana predictions 58% 87 $58.57 8.36% 6.84% $24 799 833 110 SOL 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $0.999510 -0.07% -0.07% $24 477 928 460 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 68% 62 $0.387779 4.00% 3.98% $13 687 896 857 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 74.4% 48 $0.080888 4.86% 7.39% $11 487 584 231 DOGE 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 94.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 TRON (TRX) TRX TRON predictions 86% 27 $0.103528 0.74% 5.98% $9 167 872 983 TRX 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 80.4% 30 $0.103061 -0.14% 5.17% $9 126 483 937 WTRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 83.2% 31 $2.45 0.81% 4.19% $8 408 162 630 TON 7 days price change
14 Chainlink (LINK) LINK Chainlink predictions 68% 69 $14.67 5.10% 4.09% $8 170 234 304 LINK 7 days price change
15 Avalanche (AVAX) AVAX Avalanche predictions 58.8% 86 $20.74 3.93% 0.09% $7 573 560 582 AVAX 7 days price change

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