As with every Sunday throughout the year, we analyze the key developments that could influence the crypto markets in the upcoming week. 2023 has been filled with numerous significant events causing many sleepless nights for investors. What awaits the crypto markets in the last week of December?
Bitcoin‘s price has been on a roller coaster ride throughout 2023, but it has recently found solid ground due to expectations of an ETF approval. At the time of writing, the price stood at $43,900.
The week’s notable events include the Christmas holiday in the US and EU, the last day for Balancer (BAL) DNS hack refund claims, and Immutable ZkEVM voting.
Further developments include the unlocking of DYDX funds worth $1.81 million, AXS Coin Origins Season 7 update, and YGG unlocking $7 million.
The week continues with U.S. unemployment claims data and AGIX unlocking $3.18 million, followed by OP unlocking a significant $88 million.
Aside from these, Cardano and several other projects are expected to launch new products and services before the quarter ends, with potential surprise announcements on the horizon.
The final week of the year appears calm macroeconomically and within the crypto sphere due to the Christmas week. However, strong signals for a Spot Bitcoin ETF approval are anticipated in the following week, from January 1-7, which could significantly boost positive sentiment in the crypto markets. Investors should be alert for last-minute ETF filing updates. With increased volatility expected in the first half of 2024, investors should be cautious as the ETF approval could lead to both upward trends and institutional sell-offs.