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»BLOCKCHAIN NEWS»Bitcoin Struggling to Find Direction Until Christmas – Blockchain News, Opinion, TV & Jobs
BLOCKCHAIN NEWS

Bitcoin Struggling to Find Direction Until Christmas – Blockchain News, Opinion, TV & Jobs

By Crypto FlexsDecember 18, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin Struggling to Find Direction Until Christmas – Blockchain News, Opinion, TV & Jobs
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin (BTC) ended the week at around $41,400, down 5.5% from the previous week’s close of around $43,800. The price experienced a notable decline on Monday, reaching a weekly low of around $40,225, before making a strong recovery and surpassing the $43,000 threshold on Wednesday and Thursday. Negative price action over the weekend pushed the closing price to around $41,400, and the downward trend continued until Monday the 18th as BTC fell below the $41,000 trading level.

Last week marked the first weekly price decline after eight consecutive weeks of price gains, indicating expected market movements aimed at reducing market leverage. Approximately $345 million worth of long and short positions were liquidated during the week, with the majority of liquidations affecting long positions, totaling $235 million. However, the strong price upward trend witnessed at various points during the week led to the liquidation of approximately $110 million in short positions.

High volatility is a typical result of periods of significant uptrends and downtrends, triggering a series of liquidations that reduce market leverage and contribute to a more sustainable price action and market environment. Traders often use moments of heightened volatility to secure liquidity and rebalance positions.

Bitcoin dominance, which measures market capitalization relative to the overall digital asset market, decreased to 53.11% from 53.46% the previous week, indicating the altcoin’s strong resilience compared to major digital assets during the recent downturn. This signals active investor participation, as this pattern typically occurs when investors quickly allocate capital to various altcoins in search of short-term profitability.

An analysis of the daily trading volume of centralized exchanges measured over a seven-day period from November 11 to 17 showed that daily trading volume exceeded $36 billion. This represents the highest level recorded since March 2023, confirming strong trading activity contributing to increased volatility.

Looking at the ETF topic, Grayscale Bitcoin Trust (GBTC) discount and Grayscale Ethereum Trust (ETHE) maintain stable discounts of 9.9% and 13.7%, respectively. This highlights investors’ unwavering confidence in the possibility of ETF spot approval and the Grayscale Trust’s subsequent ETF conversion.

The final deadline for the SEC decision on the 21Shares BTC spot filing is scheduled for January 10th, with the comment window closing on January 5th. The six-day period from January 5 to 10 is when the SEC is expected to provide a final approval or rejection of the 21Shares filing, which will coincide with a series of approvals or rejections of other BTC filings. Analysts continue to predict a 90% chance of receiving approval from the SEC.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Rabby Wallet integrates XRPL EVM chain with peersyst

September 15, 2025

Skale Labs fairly publishes a technical white paper and introduces the industry’s first “encryption proof” consensus protocol.

September 10, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025
Add A Comment

Comments are closed.

Recent Posts

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

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

How XRP Enthusiasts Can Earn $15k/Day

September 16, 2025

Bringing 1R0R To R0AR Chain Unlocks New Incentives

September 16, 2025

As the Air drop recipient is sold, the infinite price is 46% conflict after Binance listing.

September 16, 2025

Vulnerability or orbit again? BTC has a line at $ 115K

September 16, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

France can break the EU password market with ‘atomic weapons’.

September 15, 2025

Cardano (ADA) Signal Recovery -Is there a strong rise?

September 15, 2025

BitMine Immersion (BMNR) Announces Crypto And Cash Holdings Of $10.8 Billion, ETH Holdings Exceeding 2.151 Million

September 15, 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

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

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025
Most Popular

Crypto funds have posted consecutive records of $1.76 billion as Bitcoin and Ethereum reach 18-month highs.

December 4, 2023

SHIB, DOGE or WIF? Which Meme Coin Has Fallen the Most?

September 2, 2024

US PayPal customers can use stablecoins for international payments.

April 4, 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.