Crypto markets continued to receive subdued interest from investors as they continued their static stance.
While a few altcoins registered minor gains in the previous 24 hours, Bitcoin continued to remain stagnant. It continued to hover near the $17000 mark but failed to cross it. Dogecoin, Cardano, Polygon, and a few other cryptos rallied marginally, while ETH stayed above $1200. The overall market capitalization of the crypto market increased by a small margin while the total trading volume also increased to over $29 billion.
There was some positive news from the United States’ third quarter GDP data as it increased to 3.2%, helped by increased consumption and exports. The data failed to reflect on the equity markets, though, with looming fears of further interest rate hikes due to the growth. Crypto markets haven’t reacted much to the fears, but analysts continue to remain wary of the near future. The world’s focus continues to remain on major crypto exchanges as regulatory authorities step up their checks on centralized exchanges.
BTC/USD price chart in 2022
Bitcoin is currently trading at around $16800 on December 23, 2022, with BTC/USD down by 0.18% in the last 24 hours. BTC/USD is trading below its 20-day EMA (16,984.05), with most altcoins showing minute movements in the last 24 hours. Many exciting new web3 projects are expected to be released in 2023, renewing hopes for a better year for crypto. Crypto proponents remained positive on the long-term perspective of crypto as 2022 nears its last week.