As the holidays approach, the cryptocurrency market seems to be entering a calm period. Today, both Bitcoin (BTC) and Ethereum (ETH) prices have declined, with BTC dropping below 95K and ETH sliding into the 3300 range. Bitcoin has been hovering around 94K for over a month and continues to fluctuate between 94K and 108K.
The performance of top altcoins has also been unsatisfactory, with most tokens dropping between 1% and 5% in the past 24 hours. The overall market cap has decreased by about 2%, now stabilizing at $3.28 trillion. During the holidays, many investors are immersed in the year-end atmosphere, leading to a sharp decline in trading volume by 34%.
However, the market is not always this sluggish, and a recovery in market activity is expected in the first week of 2024, with trading volumes likely returning to normal levels. The current Fear and Greed Index is at 51, indicating a neutral market sentiment, as everyone seems to be waiting for the right moment.
Although the holidays have cooled the market, don't forget that this is also the beginning of potential opportunities in the crypto world.
1. Today's Bitcoin Market
Bitcoin (BTC) price is trading at $94,520, having dropped about 2% in the past 24 hours.
The analyst made a bold prediction, forecasting that Bitcoin will reach $350,000 by 2025, and urged investors to prioritize self-custody over institutional ETFs.
2. Today's Ethereum Market
Ethereum (ETH) price has dropped by about 1%, currently at $3,337, with a 24-hour low of $3,307 and a high of $3,441.
ETH ETFs saw an inflow of $27 million yesterday, with Fidelity Investments purchasing $27 million worth of Ethereum. This shift in the cryptocurrency market highlights the growing institutional interest in Ethereum.
3. Today's XRP Market
As of the time of writing, XRP price is $2.15, down about 2%. Its 24-hour low and high were $2.126 and $2.234, respectively.
XRP-supporting lawyer John Deaton criticized the Biden administration's recently released cryptocurrency tax report rules.
4. Today's Solana Market
Solana (SOL) price fell by 2%, trading at $185. Its 24-hour low and high were $183 and $194, respectively.
Coingape analysts reported on the reasons behind the drastic drop in Solana's price.
5. Today's Meme Cryptocurrency Market
Today's meme cryptocurrency market has new developments! First, Dogecoin (DOGE) is down slightly by 1%, currently trading at $0.3142. Meanwhile, another hot favorite, Shiba Inu (SHIB), has only dropped by 0.5% in the past 24 hours. It seems that competition among meme coins remains fierce!
However, BONK has shown a strong rebound, increasing by 4%! This surge is mainly driven by the 'BURNmas' event, during which over 1 trillion BONK coins were successfully burned, further enhancing its scarcity.
In the world of meme coins, the market changes rapidly, and to seize opportunities, one must closely follow market dynamics.
Today's cryptocurrency market is up.
1. Virtual Protocol (VIRTUAL)
Virtual Protocol (VIRTUAL) has become the stock with the largest increase today, rising by 15% in the past 24 hours.
Today's cryptocurrency market is in loss.
1. FTX (FTT)
FTX Token (FTT) price fell by 16%, making it the worst-performing cryptocurrency in the past 24 hours.
2. Zcash (ZEC)
Zcash (ZEC) fell by 10%, trading at $61.72. Its 24-hour low and high were $61.61 and $68.92, respectively. This decline reflects the volatility of today's cryptocurrency market.
In addition, the hourly chart shows no improvements, and the prices of top altcoins and Bitcoin have not changed significantly in the past hour. It is most likely that once the holidays are over, there will be significant changes in cryptocurrency market prices next week.
