Bitcoin Price Hits Weekly High. What Happened to Cryptocurrencies

RBK-cryptoPublished on 2025-12-29Last updated on 2025-12-29

Abstract

Bitcoin's price briefly rose above $90,000 for the first time in a week on December 29th, reaching a high of $90,300 before trading around $89,600. The broader cryptocurrency market cap increased by 1.8% to $3.02 trillion. Ethereum also saw a 2.7% rise, trading above $3,000 again. Despite this short-term price increase, the market remains in a state of "extreme fear," with the sentiment index at 24 out of 100. A significant bearish trend persists, as U.S. spot Bitcoin ETFs recorded a net outflow of $782 million last week, bringing the total outflow for December to over $1 billion. Similarly, Ethereum ETFs experienced outflows. Analysts note that Bitcoin is posting its worst quarterly performance in 2.5 years, having declined 22.7% since October. For a sustained bullish reversal, Bitcoin must not only break but also hold above the $90,000 level. Key factors needed for a market recovery include renewed inflows into spot ETFs, positive regulatory progress in the U.S., and a favorable macroeconomic backdrop.

Bitcoin's (BTC) price rose above $90,000 for the first time in the past seven days. On the morning of December 29, starting from around $87,500, the leading cryptocurrency increased in price by nearly $3,000, reaching $90,300—the highest level since December 22.

As of 11:00 Moscow time, BTC is trading around $89,600, with the coin's price up 2.2% over the past 24 hours. The total market capitalization of cryptocurrencies increased by 1.8% during this time, reaching $3.02 trillion.

Ethereum (ETH) once again rose above $3,000. The altcoin increased in price by 2.7% over the past 24 hours and is trading around $3,010. The prices of other coins in the top 10 showed gains of up to 3%.

Among the top 100 cryptocurrencies, Canton (CC) saw the strongest increase—up 11%. The token Pippin (PIPPIN) experienced the largest decline—down 8%.

The Fear and Greed Index in the crypto market has remained in the "extreme fear" zone for over two weeks. On December 29, the indicator fluctuated around 24 points out of 100, indicating a tendency among market participants to sell off cryptocurrencies.

According to the latest trading week, spot Bitcoin exchange-traded funds (ETFs) in the U.S. recorded a net capital outflow of $782 million, according to SoSoValue. Since the beginning of the month, the outflow has exceeded $1 billion. Ethereum funds show a similar trend: over the past week, $102 million was withdrawn from them, and over the incomplete month of December, $603 million.

Despite Bitcoin's attempt to hold the psychologically important level around $90,000, the asset is showing its worst quarterly performance in 2.5 years. According to Coinglass, since the beginning of October, BTC has fallen by 22.7%. The last time it recorded lower returns (-57%) was after the collapse of the Terra crypto project in the second quarter of 2022.

Analysts believe that the bearish sentiment in the market persists, and for bullish sentiment to improve, Bitcoin not only needs to break through the $90,000 barrier but also hold above it. According to their assessments, positive factors remain for the crypto industry as a whole, but for growth to occur, there needs to be a resumption of sustained inflows into spot ETFs, progress in crypto market regulation in the U.S., and a positive economic backdrop.

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Related Questions

QWhat was the highest price Bitcoin (BTC) reached in the week following December 22nd, and when did it happen?

ABitcoin reached a high of $90.3 thousand on the morning of December 29th, which was its highest price since December 22nd.

QWhat is the current state of the 'fear and greed index' for the crypto market as of December 29th, and what does it indicate?

AAs of December 29th, the fear and greed index is at 24 out of 100, indicating 'extreme fear' and a market tendency towards selling cryptocurrencies.

QAccording to the article, what is the net capital outflow from US spot ETFs for Bitcoin and Ethereum for the past week and the month of December?

AFor the past week, Bitcoin ETFs had a net outflow of $782 million, bringing the total for December to over $1 billion. Ethereum ETFs had an outflow of $102 million for the week and $603 million for the incomplete month of December.

QDespite the recent price increase, why is Bitcoin's current performance considered its worst in 2.5 years?

ASince the beginning of October, Bitcoin's price has fallen by 22.7%, marking its worst quarterly performance in 2.5 years. The last time it was lower was in Q2 2022 after the collapse of the Terra project.

QWhat three factors do analysts believe are necessary to improve bullish sentiment in the crypto industry, according to the article?

AAnalysts believe that for a shift to bullish sentiment, there needs to be: 1) a resumption of sustained inflows into spot ETFs, 2) progress in crypto market regulation in the US, and 3) a positive economic backdrop.

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What is $BITCOIN

DIGITAL GOLD ($BITCOIN): A Comprehensive Analysis Introduction to DIGITAL GOLD ($BITCOIN) DIGITAL GOLD ($BITCOIN) is a blockchain-based project operating on the Solana network, which aims to combine the characteristics of traditional precious metals with the innovation of decentralized technologies. While it shares a name with Bitcoin, often referred to as “digital gold” due to its perception as a store of value, DIGITAL GOLD is a separate token designed to create a unique ecosystem within the Web3 landscape. Its goal is to position itself as a viable alternative digital asset, although specifics regarding its applications and functionalities are still developing. What is DIGITAL GOLD ($BITCOIN)? DIGITAL GOLD ($BITCOIN) is a cryptocurrency token explicitly designed for use on the Solana blockchain. In contrast to Bitcoin, which provides a widely recognized value storage role, this token appears to focus on broader applications and characteristics. Notable aspects include: Blockchain Infrastructure: The token is built on the Solana blockchain, known for its capacity to handle high-speed and low-cost transactions. Supply Dynamics: DIGITAL GOLD has a maximum supply capped at 100 quadrillion tokens (100P $BITCOIN), although details regarding its circulating supply are currently undisclosed. Utility: While precise functionalities are not explicitly outlined, there are indications that the token could be utilized for various applications, potentially involving decentralized applications (dApps) or asset tokenization strategies. Who is the Creator of DIGITAL GOLD ($BITCOIN)? At present, the identity of the creators and development team behind DIGITAL GOLD ($BITCOIN) remains unknown. This situation is typical among many innovative projects within the blockchain space, particularly those aligning with decentralized finance and meme coin phenomena. While such anonymity may foster a community-driven culture, it intensifies concerns about governance and accountability. Who are the Investors of DIGITAL GOLD ($BITCOIN)? The available information indicates that DIGITAL GOLD ($BITCOIN) does not have any known institutional backers or prominent venture capital investments. The project seems to operate on a peer-to-peer model focused on community support and adoption rather than traditional funding routes. Its activity and liquidity are primarily situated on decentralized exchanges (DEXs), such as PumpSwap, rather than established centralized trading platforms, further highlighting its grassroots approach. How DIGITAL GOLD ($BITCOIN) Works The operational mechanics of DIGITAL GOLD ($BITCOIN) can be elaborated on based on its blockchain design and network attributes: Consensus Mechanism: By leveraging Solana’s unique proof-of-history (PoH) combined with a proof-of-stake (PoS) model, the project ensures efficient transaction validation contributing to the network's high performance. Tokenomics: While specific deflationary mechanisms have not been extensively detailed, the vast maximum token supply implies that it may cater to microtransactions or niche use cases that are still to be defined. Interoperability: There exists the potential for integration with Solana’s broader ecosystem, including various decentralized finance (DeFi) platforms. However, the details regarding specific integrations remain unspecified. Timeline of Key Events Here is a timeline that highlights significant milestones concerning DIGITAL GOLD ($BITCOIN): 2023: The initial deployment of the token occurs on the Solana blockchain, marked by its contract address. 2024: DIGITAL GOLD gains visibility as it becomes available for trading on decentralized exchanges like PumpSwap, allowing users to trade it against SOL. 2025: The project witnesses sporadic trading activity and potential interest in community-led engagements, although no noteworthy partnerships or technical advancements have been documented as of yet. Critical Analysis Strengths Scalability: The underlying Solana infrastructure supports high transaction volumes, which could enhance the utility of $BITCOIN in various transaction scenarios. Accessibility: The potential low trading price per token could attract retail investors, facilitating wider participation due to fractional ownership opportunities. Risks Lack of Transparency: The absence of publicly known backers, developers, or an audit process may yield skepticism regarding the project's sustainability and trustworthiness. Market Volatility: The trading activity is heavily reliant on speculative behavior, which can result in significant price volatility and uncertainty for investors. Conclusion DIGITAL GOLD ($BITCOIN) emerges as an intriguing yet ambiguous project within the rapidly evolving Solana ecosystem. While it attempts to leverage the “digital gold” narrative, its departure from Bitcoin's established role as a store of value underscores the need for a clearer differentiation of its intended utility and governance structure. Future acceptance and adoption will likely depend on addressing the current opacity and defining its operational and economic strategies more explicitly. Note: This report encompasses synthesised information available as of October 2023, and developments may have transpired beyond the research period.

363 Total ViewsPublished 2025.05.13Updated 2025.05.13

What is $BITCOIN

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