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The Bitcoin price is around $89,000, Ethereum is trading slightly above $3,000 as of 9:30 Moscow time on December 22, and the total market capitalization of the crypto market remains above $3 trillion. These levels were maintained in the crypto market for almost the entire previous week.
In the last 24 hours, positive dynamics have prevailed in the crypto market—about 50 out of the top 100 coins by market capitalization, according to Coinmarketcap, have gained up to 70% in price. However, for the majority of them, the increase was no more than 3%. The most significant growth was seen in lesser-known crypto assets or memecoins, including BEAT (72%), NIGHT (24%), MYX (11%), M (6%).
Most assets with negative dynamics lost up to 3% of their value. The largest losses were seen in CC (17%), AAVE (9%), ICP (5%). The crypto market fear and greed index has been in the "extreme fear" zone for about two weeks; as of December 22, it stood at 25 points out of 100. The movement of the indicator suggests that market participants are leaning towards panic selling of cryptocurrencies.
Last week, there were sustained outflows from exchange-traded funds (ETFs). Inflows into US Bitcoin ETFs for the week ending December 21 amounted to nearly $500 million, according to Sosovalue.
In Ethereum-based funds—nearly $650 million, which is close to the record weekly level of $800 million recorded at the end of September.
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