Keynote
Historically, Bitcoin and the entire crypto market have gathered between December 25th and January 2nd. Bitcoin dip shows signs of altcoins, including Ethereum, recovering by 3-4%.
Bitcoin prices followed the all-time high of $108,000 last week
BTC
$83 891
24-hour volatility:
3.8%
Market Cap:
$1.66 t
Vol. 24H:
$32.99 b
We have revised the 15% or more to reach the new low for today’s December. As of press time, Bitcoin prices are trading at $94,225, falling 1.21% at $1.86 trillion, amid a new selling price. This has further weakened hopes for Santa Claus Rally this Christmas.
Today, Bitcoin price hit a low of $92,403 and then bounced for a short time. In bull markets, BTC and other cryptocurrencies are working well throughout the celebration period. However, last week’s disappointing BTC performance after all-time bests has killed hopes of major fireworks in the future.
Crypto Trader Mister Crypto highlighted Bitcoin’s historic performance, noting important gatherings between Christmas and New Year 2016 and 2020.
#bitcoin Santa Rally is ready! pic.twitter.com/8mbny8rk9y
– Mister Crypto (@misterrcrypto) December 22, 2024
It will be interesting to see if Bitcoin repeats this performance again. Furthermore, a recent study from Coingecko shows that in the past decade from 2014 to 2023, BTC and Crypto Market experienced eight times the 10 times Santa Claus lurries after Curismuth.
During these gatherings, crypto market capitalization skyrocketed from 0.7% to 11.8% over the week from December 27th to January 2nd. As of press time, Ethereum and other altcoins from the top 10 lists have risen between 3-4%.
Source: Coingeckco
Altcoin preparing for a Santa Claus rally?
Blockchain analytics firm Santiment reported that Altcoins had experienced a major breakout on Tuesday despite a low immersion of $92.4k before a mild recovery. Investors who bought speculative cryptocurrency during the dip added that they have seen positive results.
Source: Santiment
Crypto analyst Captain Faibik has confirmed the breakout and retest of Bitcoin’s dominance rising wedge pattern, marking the official start of Altseason. He encourages traders to prepare for the exciting period ahead as altcoins are expected to gain momentum.
Source: Captain Faibic
The Crypto market may be on the rise on December 27th. This is because about $18 billion worth of Bitcoin and Ethereum (ETH) options agreements have expired. Furthermore, Bitcoin’s social sentiment reached its annual low on December 22nd, potentially indicating future recovery.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
Bhushan is a fintech enthusiast and has a good talent for understanding financial markets. His interest in economy and finance has attracted attention to new emerging blockchain technologies and cryptocurrency markets. He is constantly involved in the learning process and continues to motivate him by sharing the knowledge he has acquired. In his free time, he reads thriller fiction novels and sometimes explores his culinary skills.
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