The post Price analysis 12/29: BTC, ETH, BNB, SOL, XRP, ADA, AVAX, DOGE, DOT, MATIC appeared on BitcoinEthereumNews.com.

Bitcoin price remains rangebound, but several altcoins that have seen sharp rallies are now witnessing profit-booking. Bitcoin (BTC) has been holding its yearly gains but is finding it difficult to break above its 17-month highs of $44,700 set earlier this month. This suggests that market participants are not loading up aggressively prior to the decision on the spot Bitcoin exchange-traded fund (ETFs) applications, anticipated in January. It is difficult to predict how traders will respond if one or more spot Bitcoin ETFs are approved. A lack of solid demand for the ETFs after approval could turn it into a “sell the news” event, while a strong inflow into the ETFs in the first few days could result in a spike in Bitcoin’s price. The uncertainty about Bitcoin’s short-term price action has boosted buying interest in altcoins. That is one of the reasons for the drop in Bitcoin’s dominance from about 55% to 51% in the past few days. Read more Source: https://cointelegraph.com/news/price-analysis-12-29-btc-eth-bnb-sol-xrp-ada-avax-doge-dot-matic

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Filed under: News - @ December 30, 2023 3:26 pm