2025 is rapidly coming to an end, and even though it was quite spectacular for a large part, it’s likely to turn out to be a red year for BTC. The past week or so didn’t help the cryptocurrency either.
Recall that the asset was already rejected at $94,500 on a couple of occasions during the previous business week when the US Federal Reserve cut the interest rates. Then, all eyes turned on the following several days due to the release of more key economic data, as volatility was expected to be quite high.
The business week began on the wrong foot as BTC was pushed south by several grand on Monday afternoon. It dropped from $90,000 to under $86,000 within just a few hours. It tried to recover some ground and exploded on Wednesday to almost $90,500. However, this turned out be another fake-out and bitcoin quickly lost all the momentum, dumping below $85,500.
The community turned its focus on Thursday’s release of CPI data in the US. Although both the core and regular Consumer Price Index showed a lot healthier inflation levels than expected, the positive effects on BTC’s price were very brief. The cryptocurrency jumped immediately from $87,000 to $89,500, where it was stopped again and driven south to a multi-week low of $84,500.
It managed to find some support there and now sits around $88,000. This means that it has dropped by almost 5% weekly, which is still less than some other big losers, such as ETH (-9%), SOL (-10%), ADA (-14%), LINK (-12%), and HYPE (-18%). XMR is the only exception here, with a weekly increase of 5%.
Market Data
Market Cap: $3.053T | 24H Vol: $166B | BTC Dominance: 57.5%
BTC: $88,000 (-4.9%) | ETH: $2,960 (-9%) | XRP: $1.87 (-8.6%)
This Week’s Crypto Headlines You Can’t Miss
Terraform Labs Sues Jump Trading for $4B Over Alleged $1B Profit from Terra Collapse. Jump Trading has been sued for $4 billion by Terraform Lab’s court-appointed administrator for secretly profiting from the overall collapse of the Terra ecosystem, including its two native tokens.
Base Launches Tokenized ‘Everything App’ for Social, Trading, and Payments. After the beta release of the so-called ‘Everything app’ in July this year, Coinbase’s new product has officially launched, aiming to bring social features, trading, payments, and earning tools together into a single platform.
Ethereum Network Slumps to 12-Month Low: What the Retail Exodus Means. The world’s second-largest blockchain has seen an evident exodus of retail participants, with the network usage dumping to a yearly low. However, CryptoQuant indicated that such previous instances have been used by long-term investors to accumulate ETH quietly.
Bitcoin (BTC) Has Entered a Bearish Phase, Structural Indicators Confirm. BTC’s price chart for the past two and a half months has been quite painful, showcasing a massive 30+% drop from the October ATH of over $126,000. As such, some analysts argued that the asset’s structure has shifted toward a bear market phase.
China’s Mining Crackdown Drives Bitcoin Hashrate to Three-Month Low. Aside from the struggling price movements, Bitcoin was hit on another front – the hash rate. The key metric supporting the network’s health has dropped to a three-month low as China’s crackdown continues.
Is Bitcoin Entering a Supercycle? Here’s Why This One Looks Different. Whether or not the bear market has started is still up for debate, but analysts appear convinced that the old four-year cycle is no more. Instead, certain metrics suggest that BTC now operates within a single large supercycle.
The post Bitcoin’s Price Slumps Before Christmas Despite Strong CPI Data: Your Weekly Crypto Recap appeared first on CryptoPotato.
