The previous week’s events were the most bearish for the cryptocurrency market, and we’re excited to see what this month brings. Before continuing, take a look at our Hottest Crypto Market Trends.
On December 23, CoinMarketCap reported a market cap of ₹283.86 trillion. Furthermore, the top-performing currencies have witnessed enormous losses in recent weeks, attempting to establish a new market trend.
As of the past week, Bitcoin is priced at ₹8,150,724.37, reflecting a 0.94% surge within the last 24 hours with a massive price fall of 7.93% over 7 days. Regarding Ethereum, ETH is currently valued at ₹285,079.62, showing a 0.19% jump in the past 24 hours, with a significant price drop of 14.73% over 7 days.
Hottest Crypto Market Trends: Top Trending Coins
In the past week, three cryptocurrencies have remained the talk of the town because of some recent developments related to these cryptocurrencies: Chainlink (LINK), Hedera (HBAR), and Aave (AAVE).
In the past week, the price of Chainlink (LINK) showed a 19.13% drop. However, the token experienced a marginal surge of 4.35% in the past 24 hours. The token is currently trading at the price of ₹1,963.69.
Hedera (HBAR), the token, illustrated a 6.35% fall compared to other major cryptocurrencies. However, HBAR has shown a 6.43% jump in the past 24 hours, trading at a price range of ₹22.81.
In addition, the Aave (AAVE) token dropped by 9.42% in the last 7 days. Meanwhile, in the past 24 hours, the token jumped by more than 10.29%. In addition, the price of the AAVE token is trading at ₹27,968.90.
Top Crypto Gainers & Losers
The past week remains the most bearish week for the crypto market in 2024. So, let’s have a look at some of the top crypto gainers and losers from the past day:
How the Crypto Market Became Bearish?
After reaching new heights, the crypto market started to bleed heavily in the last week, with major cryptocurrencies experiencing enormous losses. As per Crypto Market Trends, the Fed meeting was one of the week’s significant events that influenced the market’s trajectory. While the Fed decreased interest rates by the expected 25 basis points, it also reduced its 2025 rate cut forecast from three to two.
Moving forward into the year’s final week, we may see some volatility because we are in a cooling-off period between bull runs. The market has to gain momentum before the anticipated rise once Trump takes office. Such cooling-off phases are critical during a prolonged bull market, such as the one we are currently experiencing.
Hottest Crypto Market Trends: Trending News From the Last Week
▪️According to a Chainalysis assessment, hackers associated with the Democratic People’s Republic of Korea (DPRK) increased the quantity of digital assets stolen between 2023 and 2024.
According to research issued on December 19 by analytics firm Chainalysis, North Korean hackers stole more than $1.3 billion in cryptocurrency in 2024 across 47 instances, accounting for about 61% of all reported thefts for the year.
▪️According to a Dec. 17 article on the X platform by Vetle Lund, K33 Research’s head of research, US BTC ETFs combined broke $129 billion in assets under management (AUM), surpassing US gold ETFs, which were just shy of that level.
▪️MARA Holdings, a Bitcoin miner, said that it purchased 15,574 BTC for a total of $1.53 billion, boosting its total number of Bitcoin holdings to 44,394 BTC, making it the publicly traded company with the highest Bitcoin reserves.
️SunCrypto Views
The recent bearish trend in the cryptocurrency market demonstrates its dynamic evolution, which has included substantial losses and degrading investor confidence. This development reflects the degrading institutional interest and decreasing technological advancements.
Despite these ongoing developments, the market’s intrinsic volatility persists. To navigate potential risks, investors should exercise caution, perform extensive research, and apply a variety of tactics. While the recent bearish trend is tremendous, it’s critical to approach the cryptocurrency market with care and a long-term mindset.
For more crypto-related content like Hottest Crypto Market Trends, informational blogs, and crypto news, check out Suncrypto Academy.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date, occasionally unintended errors or misprints may occur. We recommend you do your own research or consult an expert before making any investment decision. You may write to us at [email protected].
