Crypto market capitalization once again fell below $ 3 trillion

On Wednesday, December 17, the cryptocurrency market declined again: the total capitalization dropped below $ 3 trillion for the third time in the last month. Analysts believe that such dynamics may signal further weakness. The main selling pressure was observed in large assets with active ETF exposure, which indicates a revision of institutional positions.

Bitcoin BTC $87,257.75 Mezo Wrapped BTC 0.24% Market capitalization $38.72 million VOL. 24 hours $1.49 billion sank by 1.5% to $ 86,580, partially losing its previous growth. BTC’s weakness affected the broader market: XRP XRP $1.90 XRP 1.22% Market capitalization $114.91 billion VOL. 24 hours $0.17 billion held near $ 1.90, while Ethereum ETH $2,919.42 Bridged Ether (StarkGate) -0.14% Market capitalization $69.93 million VOL. 24 hours $0.93 billion slipped to $ 2,930 after hitting an overnight high of $ 2,980. These assets, which benefited most from institutional inflows at the beginning of the year, are now leading the decline.

The Cryptocurrency Fear and Greed Index fell to 11 points, its lowest in a month, indicating panic. Several major coins broke through intermediate support levels. The next zone for BTC is near $ 81,000, and a deeper drop could open the way to the $ 60,000-$ 70,000 range, which was previously a key resistance level.

The situation is complicated by low liquidity. According to FlowDesk, the market depth decreases at the end of the year, and traders reduce their risks, which increases fluctuations. CryptoQuant estimates that the recent bitcoin rally has exhausted its potential, while Glassnode records long-term accumulation by corporations. In particular, Strategy acquired 10,624 BTC for almost $ 1 billion, which indicates a selective increase in positions even amid a short-term downturn.