Bitcoin withstands rising Japanese interest rates, but altcoins falter
The last two months were very rough for crypto fans. Prices dropped fast and many people lost money this year. Now the month of December brings even more trouble. A new wave of price swings hits very nervous investors. It does not feel like a holiday for crypto wallets yet.
Main points
The market value lost 33 percent since October. Total value is now 2.93 trillion dollars. Bitcoin went up 2.3 percent after Japan raised rates. Small coins are falling fast with 20 percent losses. Big firms put 457 million dollars into Bitcoin ETFs.
The total market value fell down to 2.93 trillion dollars. This is the lowest it has been since last April. About one third of the market value has gone away since October. Bitcoin is holding up much better than the smaller coins. It stays near 88,200 dollars while other coins fall much faster.
Solana and Cardano lost almost 20 percent of their value lately. Some traders think a final crash is near before prices go up. Japan just raised its interest rates to 0.75 percent today. Bitcoin went up a little bit after that news came out. People still feel very uneasy.
Social media is full of deep fear among the traders right now. Users on Reddit and X talk about selling their coins constantly. Smart buyers often step in when everyone else is this scared. Prices often do the opposite of what most people expect them to do.
Big firms are putting more money into Bitcoin ETFs lately. Over 457 million dollars flowed into these funds over the last few days. BlackRock and Fidelity are still buying despite all the big price swings. They seem to have much more faith than the average small trader.
XRP ETFs just hit a value of one billion dollars. This shows that people still like many of the other crypto coins. The market feels shaky but some big players see a great chance. Hope for a price rebound still exists among all this chaos.
Facts to remember
Total market value is down to 2.93 trillion dollars. Bitcoin stays near 88,200 dollars despite all the bad news. Small coins fell by 20 percent in a few days. Bitcoin ETFs saw 457 million dollars in new money recently. Fear on social media might mean a price jump is near.