CandleFocus Weekly Price Analysis: The Market Recovers from Technical Selloff
2024-12-16
Author: Content Editor
Bitcoin has rebounded from its dip last week and has reached new highs, driven by positive ETF inflows. US spot Bitcoin ETFs have seen consecutive days of positive inflows, with $2.17 billion flowing into the top 10 US spot BTC ETFs from Dec. 9 to Dec. 13. The current price of Bitcoin is $104,500, breaking its previous high of $104,000. However, the upcoming Fed rate policy decision on Dec. 18 could impact its price. Ethereum has also rebounded but has not broken its previous high of $4,100. The spot ETF inflows for Ethereum were positive last week, totaling $854.8 million. Solana's price has declined and needs to break above $247 to resume a bullish motion. Ripple has been bullish following legal wins and expected changes to US regulations, reaching a new all-time high of $2.90 on Dec. 3.
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