Today, cryptocurrency prices have generally increased, with the global crypto market cap increasing by 3.50% to $3.44 trillion. However, due to Christmas, the total trading volume in the last 24 hours has decreased by 16%. The Crypto Fear and Greed Index remains at 73 today, indicating a "Greed" sentiment. In the process, MOVE coin and other cryptocurrencies have also gained value.
Bitcoin, MOVE coin and altcoins rose$MOVE
Bitcoin (BTC) is trading above $98,000 after retreating from $99,000 levels. Major altcoins like Ethereum (ETH), XRP, and Solana (SOL) are on a recovery track after investors booked profits in anticipation of a Santa Claus rally. Meme coins DOGE and SHIB are up 3% and 4% respectively in the past 24 hours. Meanwhile, altcoins like Fartcoin, Pudgy Penguins (PENGU), and Movement (MOVE) were also among the winners, with Fartcoin in particular gaining more than 70% in the past 24 hours.
The cryptocurrency market saw modest gains today, with Bitcoin (BTC) and Ethereum (ETH) prices rising over 4% and 3% respectively. This recovery has created optimism in the broader market amid expectations of a Santa Claus rally, with Bitcoin (BTC) price rising to $99,404 today and currently trading around $98,200. BTC has gained over 4%, recovering from its 24-hour low of $93,689. However, trading volume has fallen by 25% to $44 billion from yesterday’s $70 billion. Bitcoin’s market dominance has increased by 0.47% in the past 24 hours, reaching 56.71%.
Exits from Bitcoin ETFs$BTC
According to SoSoValue data, there were net outflows of $338.4 million from Bitcoin ETFs on Tuesday. This was the fourth consecutive outflow and has created a negative sentiment in the market from spot Bitcoin ETFs. BlackRock Bitcoin ETF (IBIT) recorded the biggest outflow with $188.7 million, while Fidelity’s FBTC saw an outflow of $83.2 million. Mining stocks have generally performed poorly. While Bitcoin is up 115% this year, most mining companies have shown negative results.
The decision to ban crypto mining in six regions of Russia by 2031 has raised concerns in the market. The price of Ethereum (ETH) has increased by 3% in the last 24 hours, reaching $3,490. The lowest price during the day was recorded at $3,381, and the highest price was recorded at $3,535. While spot Bitcoin ETFs lost their shine, spot Ethereum ETFs saw a second consecutive inflow, bringing net inflows to $53.6 million.
Solana (SOL) price increased$SOL
Solana (SOL) is up 4% in the last 24 hours and is currently trading at $198.61. SOL needs to break above the $200 psychological level to make more gains. The low for the day was $189 and the high was $201.63. Solana’s trading volume has dropped by 15% in the last 24 hours.