The last few months were tough for the crypto world. People hoped December would be a better month, but it started with a big price drop. However, things got better after that.
How Bitcoin’s Price Moved This Week
Let’s look at what happened with Bitcoin, the world’s most popular digital money.
Back in October, Bitcoin’s price reached its highest point ever. This is called an All-Time High (ATH). But after that, the price started to go down. November was a very bad month, as sellers (called “bears” in the market) pushed the price to its lowest point in seven months, which was under $81,000.
The price started to climb back up and reached $90,000 by the end of November. But on December 1st, the price suddenly crashed again. It fell from around $91,000 to under $84,000 in just a few hours.
This time, buyers (called “bulls”) stepped in. They stopped the price from falling further. In fact, Bitcoin’s price recovered quickly and even jumped up to $94,000 a few times. But the market wasn’t strong enough to keep it there, and the price fell again.
Right now, Bitcoin’s price is around $90,000. This is a little lower than where it was at the start of the week.
What’s Next? A Big Meeting in the U.S.
Everyone in the crypto community is now watching for a big meeting next week. The FOMC (Federal Open Market Committee), which is part of America’s central bank, the US Federal Reserve, will decide about interest rates (the cost of borrowing money).
Most people on Polymarket, a site where people bet on future events, think the bank will lower the interest rate by 25 basis points (which is 0.25%). If this happens, it could be good for the price of Bitcoin and other investments.
How Other Coins Are Doing
This week was not good for most other cryptocurrencies, which are often called altcoins.
- XRP is down more than 6%.
- HYPE has dropped by 12%.
- ZEC (Zcash) fell by almost 20%.
A Quick Look at the Market Numbers
Source: QuantifyCrypto
- Market Cap: $3.180 Trillion (The total value of all cryptocurrencies).
- 24H Vol: $116 Billion (How much crypto was bought and sold in 24 hours).
- BTC Dominance: 57.1% (What percentage of the total crypto market is Bitcoin).
Prices This Week:
Top Crypto News You Shouldn’t Miss
1. Vanguard Now Allows Crypto Trading for its 50 Million Clients
Vanguard is a huge investment company that used to avoid crypto. Now, they are letting their clients trade special funds called Crypto ETFs. These funds track the price of Bitcoin and some other digital currencies.
2. Ethereum’s Big Update is Live
The Ethereum network had a major update called the Fusaka Hard Fork. This update is designed to help Ethereum work faster and handle more information. The price of Ethereum’s coin, ETH, went up right after the update.
3. Ripple (XRP) Investment Funds are Very Popular
Investors in the US can now buy funds that follow the price of XRP. These Ripple (XRP) ETFs are doing great. More money has gone into these funds than funds for Bitcoin, Ethereum, and SOL (Solana) recently.
4. A Big Company Bought More Bitcoin
The company MicroStrategy bought even more Bitcoin when the price dropped. They now own a total of 650,000 BTC. They also set aside $1.44 billion in cash to pay company bills.
5. Bitcoin vs. Gold: The Great Debate
At a crypto conference called Binance Blockchain Week, there was a big debate. CZ (Changpeng Zhao) from Binance argued for Bitcoin, while Peter Schiff argued for gold. Most people who watched online thought CZ won the debate.
6. Analyst Predicts Ethereum Could Hit $20,000
Well-known analyst Tom Lee believes Ethereum (ETH) could reach $20,000 next year. He thinks this will happen because of tokenization, which is when real-world items are turned into digital tokens on a blockchain.
Price Charts
This week, we have a price analysis for Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid. Click here for the full story.