24 Crypto Update,25 Dec: Crypto Prices Hold Steady in Low-Volume Limbo

Cryptocurrency market climbed 1.20% in 24 hours to $1.76 trillion

• The U.S. SEC has postponed its decision on several Ether ETFs to May 2024. Analysts remain optimistic about early 2024 approvals for Bitcoin spot ETFs.

• After reaching an 18-month high on December 8th, BTC has since consolidated within a narrow range. Bulls and bears are in a holding pattern, awaiting a breakout in either direction.

Crypto Fear and Greed:

In the last 24 hours, the cryptocurrency markets experienced significant profit-taking, leading to a 2-point decline in the "Greed and Fear Index." Consequently, the present index stands at 71 on its 0 to 100 scale.

Latest Market Update: 

• Bitcoin, the world's oldest and most valuable cryptocurrency, maintained a position above the $43,000 mark on early Tuesday.

• Several popular altcoins, including Ethereum, Solana, Ripple, Litecoin, and Dogecoin, all showed positive performance.

• ORDI emerged as the top performer, experiencing a remarkable 24-hour gain of nearly 36 percent.

• Conversely, THORChain stood out as the largest loser, with a 24-hour decline of almost 6 percent.

• The total crypto market volume in the past 24 hours is $76 billion, reflecting a 0.92% increase.

• DeFi contributes $7.24 billion to the total market volume, constituting 11.44% of the 24-hour crypto market activity.

• Stablecoins record a volume of $55.81 billion, representing 88.18% of the total crypto market 24-hour volume.

• Bitcoin's dominance stands at 52.10%, experiencing a 0.30% decrease over the day.

Major Worldwide News Update:

• The PawZone NFT marketplace founder, @jds_updates, anticipates a positive impact on Shiba Inu (SHIB) and PawZone (PAW) with the potential approval of a spot Bitcoin ETF by the SEC. Speculations suggest a significant market influx, influencing crypto prices. SEC requires final filings by December 29 for spot Bitcoin ETF approval.

• OKX CEO, Jay Hao, sets conditions for listing BRC-20 tokens, emphasizing blockchain technology, community popularity, long-term commitment from founders, regulatory compliance, and independent market research. He aims for a thoughtful approach, rejecting aggressive listing for sustainable market growth amid memecoin frenzy.

• Digital asset investment products experienced a turnaround with $103 million in weekly inflows, including $87.6 million for Bitcoin, signaling renewed positive sentiment. The market anticipates spot Bitcoin ETF approval in January, supported by recent SEC meetings and new adverts from Bitwise and Hashdex. Ethereum and Solana also saw notable inflows.

• Bitcoin's funding rates, reflecting fees for maintaining long positions, are normalizing after a recent rally. Traders paid up to 4.6% for Bitcoin-based ORDI tokens. Funding rates for Ethereum, Solana, and XRP have also stabilized, suggesting a bearish sentiment. Analysts anticipate Bitcoin's uptrend to persist despite the pullback.

• TrueUSD (TUSD) collaborates with Moore Hong Kong (MooreHK) for daily attestations starting January 2024, enhancing transparency and trust. This strategic partnership reinforces TUSD's commitment to being a reliable and transparent stablecoin, showcasing a proactive approach in the stablecoin ecosystem.

• The U.S. SEC delays decisions on Ether ETFs to May 2024, including Hashdex and Grayscale offerings. In contrast, analysts anticipate Bitcoin spot ETF approvals by early 2024. Binance and CZ settle with CFTC for $2.7 billion, while China tightens regulations on in-game tokens, aiming to ban certain activities in the online gaming industry.

• Cryptocurrency investment products rebounded with $103 million in inflows for the week ending December 22, reversing the previous week's $16 million outflows, according to CoinShares. Bitcoin led with over $87.6 million in inflows, comprising 85% of the total. Germany and Canada recorded the highest inflows by region. The trend suggests optimism around potential approval of spot Bitcoin ETFs in the U.S.

COIN GABBAR Views: Is Bitcoin Bracing for a Sub-$40K Plunge, Anticipating a Market Storm? Or Will it Hold Ground in Consolidation Until Year-End? The Crucial Dilemma: Is Bitcoin Nearing a Late Surge to $50K, or Does a Potential Pullback Loom on the Horizon? To get latest news Stay tuned us at coingabbar

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

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