Central bank solutions supported the market
Soft data on inflation in the USA and careful rhetoric from the Bank of Japan have increased interest in risky assets. Bitcoin and altcoins received short-term support on expectations of longer-lasting soft financial conditions.
Political background and $BNB
Russian-speaking media discusses the influence of Donald Trump's policies on the market: a more favorable rhetoric towards the crypto industry has increased demand for exchange and infrastructure tokens, including BNB.
Profit-taking by early holders$BTC
According to business publications, early investors sold Bitcoin for about $300 billion. This increases pressure on the price and indicates a shift in the market from euphoria to the phase of coin redistribution.
HashKey IPO in Hong Kong
The largest licensed cryptocurrency exchange in Hong Kong, HashKey, raised $206 million through an IPO. The placement was supported by UBS and Fidelity; trading started on December 17 against a backdrop of a volatile market.
Pressure on Ethereum due to ETFs
Ethereum $ETH lost almost 18% over the week due to six consecutive days of outflows from American ETFs on Ethereum, which intensified the short-term bearish sentiment towards altcoins.
