Crypto wrap: Macro indicators improve, market stable despite Fed rate hike

On December 15, after the US inflation of 7.1 per cent for November was announced, Bitcoin touched its five-week high of $18,400

The cryptocurrency market in the past week has been fairly resilient despite the arrest of Sam Bankman-Fried and the interest rate hike announced by the Federal Reserve (Fed). The market cap fell marginally from $859 billion on December 12 to $852 billion on Friday. The prices of Bitcoin are up 1.5 per cent to $17,505, according to data from CoinMarketCap. Ethereum is flat at $1,277.

On December 15, Bitcoin touched its five-week high of $18,400.

"Despite the week starting sideways movement in the markets, there's a good run on account of CPI data and interest rate hike towards the end