Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Bitcoin, Ethereum drop over the weekend: What’s next?
ALTCOIN NEWS

Bitcoin, Ethereum drop over the weekend: What’s next?

By Crypto FlexsDecember 18, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin, Ethereum drop over the weekend: What’s next?
Share
Facebook Twitter LinkedIn Pinterest Email

reporter

Posted on: December 18, 2023


  • Over the weekend, BTC fell to $41,158 and ETH fell below $2,200.
  • The market was expected to move sideways until the end of the year.

Cryptocurrency trading activity cooled over the last non-holiday weekend of the year, the first possible sign that a 2023 peak may have been reached and the market will remain sideways until 2024.

Over the weekend, Bitcoin (BTC), the world’s largest cryptocurrency, fell below $42,000. The decline has accelerated over the past 24 hours, with BTC falling to $41,158 as of this writing, AMBCrypto discovered using data from CoinMarketCap.

Ethereum (ETH), the second-largest digital asset, fell below $2,200 as participants recorded gains before leaving for the festivities. ETH, which lost more than 2% in 24 hours, was trading at $2,172 at the time of press.

Decrease in trading activity

Bitcoin has led a broad market rally over the past two months, driven by enthusiasm over the approval of spot ETF applications in the US market.

Optimistic expectations led investors to build their portfolios with BTC, resulting in heightened trading activity.

However, AMBCrypto’s analysis of Santiment data shows that daily trading volume fell 60% last week.

Even whale investors, who typically take advantage of calm periods to accumulate assets, have dabbled in trading, as evidenced by the sharp decline in large transactions.

Source: Santiment

The amount of coins moving to exchanges also appeared to have decreased noticeably. From 45,269 BTC a week ago, exchange inflows plummeted to 15,675 BTC on December 17, a clear sign of declining trading activity.

Source: Santiment

The derivatives market is also quiet.

Speculative interest in KingCoin also began to fade as the end of the year approached. Open interest (OI) for BTC futures fell more than 9% from last week to $16.95 billion, AMBCrypto said using Coinglass data.

A decline in OI that coincides with a decline in market prices is generally viewed pessimistically by market experts. However, the current situation may be more of a year-end blip than a long-term trend.


Read Bitcoin (BTC) Price Prediction for 2023-24


Shivam Thakral, CEO of Indian cryptocurrency exchange BuyUcoin, weighed in on the market situation in a quote shared with AMBCrypto.

He pointed out:

“We expect trading activity to decline somewhat as the holiday season approaches, which may keep markets at current levels. The Bitcoin ETF approval clock is ticking, and once final approval occurs, we can expect a cryptocurrency supercycle in 2024.”

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

‘Fat Apps’ can lead the cryptographic story in the next few months.

September 11, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025
Add A Comment

Comments are closed.

Recent Posts

Animation Powerhouse Maggie Kang To Join Programming Lineup

September 18, 2025

MEXC Joins Forces With Lombard Finance (BARD) To Launch $1 Million Prize Pool Extravaganza

September 18, 2025

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025

Stablecoin Holdings Drop As Investors Pivot To SOL, XRP, And Altcoins

September 17, 2025

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Animation Powerhouse Maggie Kang To Join Programming Lineup

September 18, 2025

MEXC Joins Forces With Lombard Finance (BARD) To Launch $1 Million Prize Pool Extravaganza

September 18, 2025

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025
Most Popular

Cryptocurrency developers are introducing a rival ERC-404 implementation called DN-404.

February 13, 2024

These 5 Cryptocurrencies Could Deliver 10x Profits in Q1 2024

January 8, 2024

Trader says Avalanche (AVAX) is gearing up for a massive rally and updates outlook for Dogecoin (DOGE).

November 24, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.