In the crypto market report prepared by the ICRYPEX Research team and covering the week of December 4 – 11, we have compiled the latest developments on crypto assets, price movements of crypto assets and macroeconomics.
You can take a look at the general flow of this report just below, and you can find all the developments that took place in the 7-day period in the Weekly Crypto Market Reports: December 11, 2023.
December 11th Weekly Crypto Market Report Overview
Although the selling pressure that started on Monday last week pushed the price back above the 43,000 level after the rally in macroeconomic data and risky assets, the decline that started in the last three days of the week caused the price to return to the $ 40,000 – 41,000 range.
In the same process, Ethereum returned to 2150 support after reaching the $ 2350 region. Bitcoin dominance was 53.1% and Ethereum dominance was 17.23%, with the total market capitalization ending the week at $ 1.51 trillion with a retreat of $ 8 billion.
While Bitcoin, which has continued its uptrend since early 2023, has experienced a 64% appreciation in the 2-month period from mid-October to today, we can accept it as normal for such strong rallies to make correction movements.
In this period when Bitcoin is in a correction, we see that altcoins are going through the process better. Although Ethereum lost more than 7% of its value, we see that other altcoins benefited from this process and increased their weight on the market by losing less value against the two largest coins.
The three crypto assets with the best performances for the week were WLD (62%), Storj (59.77%) and Injective (36.20%), while FTT, SNX and VIC were the three crypto assets that lost the most value.
For a more comprehensive look at the week from December 11 to 18, check out the Weekly Crypto Market Reports: December 11, 2023.
