PANews reported on December 23 that, according to the latest market update from Wintermute, the cryptocurrency market remained volatile as of December 23. BTC briefly fell below $85,000 last week before gradually recovering to $90,000, while ETH fell below $3,000. The total market liquidation last week exceeded $2 billion, with leveraged funds being rapidly squeezed out. Bitcoin's dominance continued to rise, with mainstream cryptocurrencies BTC and ETH receiving more buying support, while altcoins performed poorly due to supply pressure and unlocking plans.

Data shows that institutional funds have been flowing in continuously since the summer, and retail investors are gradually shifting their funds from altcoins to mainstream cryptocurrencies. Despite short-term volatility, overall market liquidity is calming, and market activity is expected to decrease during the year-end holidays, with prices likely to continue trading within a range. In the medium to long term, continued entry by traditional financial institutions may provide stronger support for the market.