📊Crypto Market Update–Dec 24📉

🌐 Global Market Cap: $3.3T (-0.53%)

💰 Bitcoin (BTC):

•Range: $92,520 - $96,539

•Current: $94,155 (-1.84%)

🚀 Top Performers:

•PHA: +34%

•ZEN: +30%

•BAT: +25%

📈 Key Market Insights:

1️⃣ Options Expiry Ahead:

•QCP Market Analysis reveals that $20B BTC & ETH options will expire this Friday, representing nearly half of Deribit’s total open interest.

•Analysts expect post-expiry volatility, with sellers closing positions and spot prices fluctuating.

•If BTC surpasses $100K, volatility could remain elevated.

2️⃣ Altcoin Watch:

•BTC remains under the $100K resistance, with dominance at 58%.

•Analysts suggest a potential rotation into altcoins if BTC dominance drops significantly, mirroring a pattern observed a month ago.

3️⃣ Justin Sun Clarifies Rumors:

•Addressing social media speculation, Justin Sun denied rumors of liquidating his ETH holdings.

•He explained that recent ETH movements were merely wallet transfers by his team, reaffirming his long-term confidence in Ethereum.

4️⃣ Argentina vs Rainbowex Pyramid Scheme:

•Argentina has requested Tether to freeze $3.5M USDT linked to the Rainbowex scheme.

•Authorities conducted 22 search warrants and detained 22 individuals involved in misleading thousands of investors.

5️⃣ Polkadot Governance Activity:

•Data from Dune Analytics highlights increased participation in Polkadot’s OpenGov governance system.

•DOT voting engagement spikes from 32.65% to 65.30% of supply during high-activity periods, showing robust participation.

6️⃣ Social Media Freeze:

•aiPool founder Skely’s X account has been frozen.

•Reasons remain undisclosed, but the incident raises concerns about platform transparency and ongoing scrutiny of influential crypto figures.

📊 Market Sentiment:

As the year-end approaches, volatility remains a key theme, with major expiries, regulatory crackdowns, and whale movements shaping the narrative. Investors are urged to stay cautious but alert, as these events could trigger market-defining movements.

Stay informed, stay sharp! 🚀🔍

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