🔊Weekly Market Highlights #130: December 23 - December 29

✨The cryptocurrency market stayed calm over Christmas, showing little volatility as major projects and investors appeared to take a break after a busy year.

✨Over the past week, the crypto market total capitalization increased by ~$67B (from ~$3258B to ~$3325B).

✨BTC Stalls at $95K
✅Last week’s correction wiped out much of BTC’s December price gains. On December 23, BTC dropped sharply to $92K. Between December 24 and 26, it attempted to recover toward $100K several times, but each effort was firmly rejected, driving the price down by several thousand dollars.

✅The latest drop occurred at the end of the business week when BTC fell to $93K. It managed to hold that level, rebounding to $94K yesterday and $95K at the time of writing. This trend aligns with the recent decline in trading volumes, which could work in BTC’s favor if whales continue making significant purchases.

✨Featured News
✅On the evening of December 23, MicroStrategy announced that it had spent $561M over the past week to purchase an additional 5,262 BTC at an average price of $106,662.
source: HERE

✅CoinGecko released a report on 2024 crypto investment trends, analyzing over 200 stories and global data. Memecoins dominated with 31% of investor interest, reflecting their high profitability and a shift in investment strategies.
source: HERE

✅Telegram, the crypto-favorite messaging app, has turned profitable for the first time in over a decade, founder Pavel Durov shared on X. Revenue is set to exceed $1 billion in 2024, with Premium users tripling to 12 million. The platform ends the year with $500 million in cash reserves, excluding crypto assets.
source: HERE

✅Total 2 Index (Marketcap excluding BTC) is now at $1355B

✨Bitcoin Fear and Greed Index is 65 - Greed, lower than at the beginning of the week (70)

✨Dominance:
✅BTC: 56.4%
✅ETH: 12.5%

📣See you next week!

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