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We are now in the final week of the year for the Bitcoin and altcoin market. As we approach the middle of the last week, it seems that Bitcoin and other leading cryptocurrencies have taken a break from their ongoing rise. Some retracements have been observed in cryptocurrencies. Let’s take a look at the state of the market as the day begins.
Current Situation for Bitcoin and Ethereum
Bitcoin experienced a decline last evening. BTC fell to a level of $41,637, indicated by a candle signaling a rapid regression. Following this, a quick recovery in the price has BTC trading at $42,344 at the time of writing. The recent drop in BTC was around 2.7% over the last 24 hours.
Ethereum, considered the leader of altcoins, seems to be following Bitcoin’s path. Ethereum also experienced a pullback around the same time as BTC’s decline. The price fell to $2,178. Subsequently, with the recovery that occurred, the price reached $2,223. Ethereum’s decline was about 2.24% in the last 24 hours.
Sharp Decline in Altcoins
The recent rise in altcoins has been impacted by a slight pullback in BTC. ADA‘s price fell to $0.59. Solana, which has recently attracted attention with its increase and reached triple-digit values, fell by 8% to the $110 level.
Similar to Solana, the cryptocurrency AVAX also experienced a decline. Accordingly, AVAX fell by 8% to a level of $43.1. It should be noted that AVAX dropped to $40.53 during last night’s volatile session.
BNB, on the other hand, did not accompany yesterday’s decline, experiencing an increase in price following the Sleepless announcement. However, it should be noted that the price rose to $303 yesterday. Despite a slight pullback, BNB is currently trading at $290. The increase in BNB’s price over the last 24 hours is around 8%.
What Are the Market Expectations?
After the recent rises in the cryptocurrency market, the optimistic atmosphere is expected to continue. The observed decline indicates the investors’ desire to take some profits.
In the coming days, the continuation of gains is expected along with the excitement in the market. Additionally, the possibility of the SEC’s approval of a Bitcoin ETF remains one of the factors keeping the market lively.
