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Price analysis 12/20: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE

Cryptocurrency Dec 21, 2021 06:20PM ET
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Bitcoin (BTC) continues to lose ground in December, a signal that traders may be locking in their gains before the end of the year. The lack of a Santa rally in the U.S. equity markets indicates that the risk-off sentiment prevails due to the uncertainty regarding the spread of the COVID-19 omicron variant in several parts of the world.

Even after the sharp drop in Bitcoin’s price, the demand from institutional investors remains tepid, and data shows that the largest institutional Bitcoin product, the Grayscale Bitcoin Trust (GBTC), is trading at a discount of more than 20%.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
LUNA/USDT daily chart. Source: TradingView
AVAX/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView

Continue Reading on Coin Telegraph

Price analysis 12/20: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE
 

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