While the main cryptocurrency has entered a local correction, the entire crypto market is awaiting approval for a Bitcoin spot ETF. The outflow of funds from cryptocurrency investment products, recorded last week, has turned into an inflow — $103 million in the period from December 16 to 22.
This was reported by James Butterfill, the head of research at CoinShares. CryptoQuant experts predicted a Bitcoin price increase to $54,000 at the beginning of 2024 and to $160,000 after the halving.
Ethereum demonstrated positive dynamics with an inflow of $7.9 million. This reflects strong investment fundamentals and increased demand for Ethereum’s staking profitability. Solana witnessed a weekly inflow of $6 million and an impressive inflow of $20.1 million since the beginning of the month, positioning itself as the third-largest among altcoins. These are not the only impressive results; there are still many interesting and promising projects, such as AVAX, Litecoin, PolkaDOT, and many others.
In the last week of the outgoing year, there is a decrease in volatility in the Forex market, which cannot be said for the cryptocurrency market. At the moment, many projects have not yet surpassed their annual highs, making it a great time to diversify your investment portfolio with interesting coins! With us, you can welcome the New Year with excellent profits!
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