Discover the Critical Week for Cryptocurrencies

As we enter the final complete week of December, the cryptocurrency market has endured a challenging quarter. Bitcoin

prices fluctuated significantly, often appearing to chase liquidity, leading to billions in losses for market participants. Despite strong volatility generally favoring bears, short-term negative developments seem to be waning, and the upcoming holiday week may offer some respite.

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Key Developments of the Week

The upcoming week promises significant developments for both the macroeconomic landscape and the cryptocurrency sphere. Although more substantial events are expected in January, the upcoming week’s key happenings are detailed in day and time specifics. From significant announcements by European Central Bank officials on Monday to critical economic data releases from the U.S. throughout the week, these events could influence market dynamics.

December 22, Monday

• 11:00-16:00 European Central Bank Officials Announcements

December 23, Tuesday

• 16:30 U.S. GDP (Expected: 3.2% Previous: 3.8%)
• 16:30 U.S. PCE (Expected: 2.9% Previous: 2.6%)
• 17:15 U.S. Industrial Production Monthly (Expected and Previous: 0.1%)
• 18:00 U.S. CB Consumer Confidence Index (Expected: 92 Previous: 88.7)
• Undeads Games (UDS) Unlock (1.46% of supply)
• SOON (SOON) (5.97% of supply)

December 24, Wednesday

• 02:50 BoJ Meeting Minutes
• 16:30 U.S. Initial Jobless Claims (Expected: 222.5K Previous: 224K)
• SoSoValue (SOSO) Unlock (1.59% of supply)

December 25, Thursday

• U.S. Markets Holiday
• Plasma (XPL) Unlock (4.52% of supply)
• Humanity (H) (4.79% of supply)
• Uniswap Unification Voting Outcome (for burning up to 100 million UNI)

December 26, Friday

• Largest Bitcoin Options Closure of the Year

December 28, Sunday

• Jupiter (JUP) Unlock (1.73% of supply)

Considerations in Cryptocurrency Markets

Friday marks the annual closure of Bitcoin options, with $23.8 billion worth set to conclude, likely leading to increased volatility. While trading volumes may decrease due to the holiday season, positive inflation reports might spark temporary rallies despite inherent market insecurities.

The conclusion of the year is not expected to bring significant positivity to cryptocurrencies as January approaches. Potential delistings of crypto reserve company stocks by MSCI and the possible annulment of the Supreme Court’s customs tariff might cast renewed uncertainty over the crypto markets.

Expectations of a rate cut for the January decision remain below 25%, 38 days prior to its announcement.