Month: December 2022

Bitcoin price has been oscillating in a very tight range heading into the new year’s holidays, offering little clue on the direction of the next significant move. Nevertheless, the market remains in a very decisive area, demand for cryptocurrencies wanes and the outflows continue; its fate could be decided in January.

Bitcoin's short-term outlook looks neutral as BTC has been stabilized in recent weeks, more work needs to be done before concluding that the worst for the cryptocurrency is over. Bullish crypto momentum fizzled after Fed Chair Powell poured cold water on investors’ hopes but higher time frames remain interesting.

The past 24 hours were particularly eventful in the cryptocurrency market as a storm of news hit from all fronts. Overall, the market reacted positively and topped $900 billion, while Bitcoin pushed to $18K for the first time in more than a month.

No new capital coming into the crypto market at this time and that’s the reality we face. Little activity is going on and it’s going to take a long time for funds to start flowing into the market. Amid the collapse of FTX and the crypto market, the funding rates dropped deeper in the negative region, showing values previously observed during the Covid-19 crash.