The crypto market rose slightly today, Dec. 19, as investors bought the dip following the Bank of Japan’s interest rate hike and the U.S. release of encouraging consumer inflation data. The ongoing crypto market rally could be at risk after a warning from John Williams. He warned that he did not see the need for more interest rate cuts in 2026. There are other potential risks, including the bearish flag and the Bank of Japan rate hikes.
Bitcoin (BTC) price rose to $88,000, while the market capitalization of all tokens rose to $2.97 trillion. Some of the top gainers were tokens like Bitcoin Cash, Zcash, and Morpho. The ongoing crypto market rebound could be at risk after John Williams, the head of the New York Federal Reserve, warned that he does not see the need for another interest rate hike despite recent macroeconomic data. The rate hike was already priced in, with odds soaring to 99% on Polymarket before the decision.
Bitcoin price has formed a bearish flag pattern. Bitcoin price remains below all moving averages and the Supertrend indicator, suggesting a bearish breakdown to the key support level at $80,468. A drop below that level will indicate further downside, potentially to the ultimate support at $75,000.
The crypto market edged higher on Dec. 19 as investors bought the dip following the Bank of Japan’s rate hike and encouraging U.S. inflation data. Bitcoin climbed toward $88,000 and the total crypto market cap rose to about $2.97 trillion. The rally could be at risk after John Williams, head of the New York Federal Reserve, warned that he does not foresee further rate cuts in 2026.
Additional risks include a bearish flag formation and continued Bank of Japan rate hikes. The rate move had already been priced in, with odds near 99% on Polymarket before the decision. Bitcoin’s price has formed a bearish flag pattern and remains below all moving averages and the Supertrend indicator, signaling a potential breakdown to the key support around $80,468 and, if breached, faces downside toward roughly $75,000.
Top gainers amid the rebound included Bitcoin Cash, Zcash, and Morpho, underscoring selective strength within the broader market. The near-term trajectory remains unclear as macro signals and technical patterns suggest possible further volatility for crypto prices.
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