Crypto markets were in red in the last 24 hours, though experts termed the dip as superficial.
Bitcoin slid below $17000 yet again as investors feared another failure of a prominent exchange. Though the reports weren’t confirmed by the exchange nor by experts, a sense of panic ran deep through markets, triggering a sell-off. Crypto exchanges have been facing much criticism in the last few months due to the lack of transparency and for not maintaining enough liquid reserves, but the newly founded rumors couldn’t find any confirmation.
Experts reiterated the need for decentralized exchanges, more accountability by exchanges, and increased security. On the macroeconomic front, recent inflation data did bring some cheer to the markets, but a hawkish stance adopted by most of the central banks worldwide continued to play a role in subdued markets. The broader crypto markets were under pressure, bringing down the total market capitalization. Analysts gave mixed indications, signaling that the markets could pick up if BTC rallied above $17000 again.
BTC/USD price chart in 2022
Bitcoin is currently trading at around $16700 on December 18, 2022, with BTC/USD down by 0.20% in the last 24 hours. BTC/USD is trading above its 20-day EMA (16,684.00), with most altcoins trading lower in the last 24 hours. Analysts termed the next few days extremely important to decide the course of the markets for the upcoming year.