Here’s a breakdown of the crypto market from last week:
Bitcoin Continues to Fight For Life 💪
Last week was about Bitcoin (BTC) still fighting to stay above $90,000. After touching $93K briefly, it seemed like a new rally was on the way, but BTC’s price fell again and was hovering around $89K before a late Sunday bump took it to over $91K.
Analysts said Bitcoin’s move up was partly caused by traders who bet against it getting forced to buy back in. Once BTC pushed above $93,000, a lot of “short” positions got liquidated, and that forced buying helped push the price up even faster.
Also, the current Bitcoin cycle has attracted approximately $732 billion in new inflows — more than double the amount that came in during the last cycle. Spot Bitcoin Exchange-Traded Funds (ETFs) also saw $58.5 million in net inflows on December 2, marking five consecutive days of inflows. Meanwhile, BlackRock’s Larry Fink described Bitcoin as an “Asset of fear”, and it was more of a compliment than tearing the coin down. Unpack everything below 👇.
However, despite Bitcoin’s challenging times, Ripple Labs CEO Brad Garlinghouse and Strategy CEO, Michael Saylor, are doubling down on their BTC price predictions. Garlinghouse believes that BTC would reach $180K by the end of 2026, while Saylor still holds his end-of-year $150K prediction.
Larry Fink Says Bitcoin Is an “Asset of Fear” (And He Means It as a Compliment)
BlackRock CEO Larry Fink basically said Bitcoin is what people run to when the world starts looking shaky, as they run to gold. According to him, crypto (and gold) are “assets of fear,” meaning when investors start worrying about debt, inflation, or governments turning into money printers, they look for something else to hold.
The funny part? This is coming from the same Wall Street boss whose company now runs the biggest spot Bitcoin Exchange-Traded Fund (ETF) in the US, so it’s less “crypto is a scam” and more “crypto is now a serious adult.”
So if your group chat is panicking and your chart is looking like a horror movie, just know that, according to Larry Fink, that fear is literally part of Bitcoin’s job description 😭.
Ethereum and Other Altcoins See Green Flashes
On the other side of the crypto market, some altcoins, including Ethereum (ETH), slightly picked up momentum again. The ETH price went back to $3,000 after the Fusaka Upgrade, a network upgrade that is expected to increase Ethereum’s network throughput to 100,000 transactions per second (TPS).
With Ethereum’s slight upward momentum, other altcoins have followed its path. Coins like Bitcoin Cash (BCH), Chainlink (LINK), Sui (SUI), and Toncoin (TON) showed decent green progress, but everyone is waiting for Wednesday’s Fed decision. A 25 basis point (bps) cut is already priced in, but what matters is Powell’s tone. With liquidity slowly improving, there are reasons to stay optimistic, but the market is still sensitive.
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢).
Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
