Last week, cryptocurrency markets saw a 13% decline from their peaks. Upcoming economic reports are expected, yet are unlikely to drastically affect crypto markets.
Correction in Cryptomarkets
Crypto exchanges continue to decline after a significant drop in total capitalization to $3.4 trillion. This occurred following a loss of approximately $200 billion over the weekend, bringing the market back to late November levels.
Weekly Economic Events
Among key economic reports, the December Consumer Confidence Index and November Durable Goods Orders are expected. Both reports can reflect consumer sentiment and gauge economic activity. During the holidays, initial jobless claims data and GDP data from the Atlanta Fed are also anticipated.
Cryptomarket Overview
Bitcoin continued to pull back, falling below $94,000, down 13% from its all-time high of $108,000. Ethereum plummeted 20% from its peak, falling below $3,200. Altcoins also showed negative dynamics with average losses between 2% and 4%.
Cryptomarkets are in correction mode, and forthcoming economic events may have some influence on the situation. Investors should monitor developments closely.
