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 4, 2023.
December 4th Weekly Crypto Market Report Overview
The rise that took place at the beginning of December had carried the Bitcoin price to the 44,700 region, the highest level of the last year and a half. In this process, Bitcoin dominance, which rose to over 55% with the reaction we could not see from altcoins in this process, fell back to 53.5% with the altcoin rally seen last week. We see that the rise of Layer-1 and Layer-2 projects, especially in the top 30 in terms of market capitalization, is the most important factor in the altcoin rally.
In this process, Ethereum also managed to rise to the 2400 region and, like Bitcoin, renewed its peak value since last January 2022. After this activity, the total market capitalization rose to 1.63 trillion dollars, but returned to the 1.5 region with the weekly close. We can say that the uptrend continues and the sales movement after the weekly close is not yet a trend-breaking movement and can be considered as a correction. In order to make more comprehensive evaluations about the decline, how deep the decline that may be experienced this week will deepen or the levels to be reached with the rise have become more important.
For a more comprehensive look at the week from December 4 – 11, check out the Weekly Crypto Market Reports: December 4, 2023.
