As a seasoned cryptocurrency researcher with years of market volatility under my belt, I must admit that the recent holiday-season rally has been quite the rollercoaster ride. Bitcoin‘s brief sojourn to $99,000 on Christmas Eve was nothing short of exhilarating, reminding me once again that the crypto market is a wild beast that can surprise even the most experienced of us.
Following several days of adjustments and lateral movements, Bitcoin surged forward on Christmas Eve, reaching momentarily above $99,000.
Additionally, many alternative cryptocurrencies (altcoins) are also witnessing growth, with significant jumps seen in Solana (SOL), Dogecoin (DOGE), Avalanche (AVAX), and The Open Network (TON).
BTC Back to $98K
Last Wednesday following the final FOMC meeting of the year, Bitcoin experienced a tumultuous and challenging trading week. Although the Fed decreased interest rates by 25 basis points, Bitcoin plummeted, shedding approximately $16,000 in value within just a few days. On Tuesday, its price was over $108,000, but it dropped to around $92,000 by Friday.
Over the weekend, I saw a surge in my Bitcoin investment, reaching heights above $99,000. However, this peak was fleeting as the price began to fall almost instantly. By Monday, it had plummeted back down toward $92,000 once more.
Initially, the price held steady at approximately $94,000 and climbed back up to around $99,000 on Tuesday due to the Santa Claus rally. In just a short time, the value of bitcoin surged from $94,000 to slightly above $99,000. Since then, it has somewhat slowed down, but BTC remains above $98,000 after experiencing a 4% daily growth spurt.
On the crypto exchange, its market value has significantly increased to a staggering $1,940 billion, while it once again surpasses other digital currencies with a control of more than 54% in the market.
AVAX Up 5%
Today, many alternative coins (altcoins) are experiencing gains as well. Ethereum has almost reached $3,500 following a 2% rise, while XRP is up to $2.3 due to a comparable percentage boost. Similarly, BNB, ADA, TRX, and LINK have seen identical growth.
In a recent uptick, Solana, Dogecoin, and Toncoin have risen by approximately 2-4%. Meanwhile, Avalanche (AVAX) has seen an increase of almost 5%, currently valued over $40.
Among the top 100 altcoins, the highest daily profits are primarily attributed to MOVE (at around 26%), followed by BGB (approximately 16%), PENGU (nearly 13%), JASMY (around 13%), and VET (approximately 10%).
The cumulative market cap of all crypto assets has added over $100 billion since yesterday and is close to $3.6 trillion on CG.
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2024-12-25 12:51