Despite the Christmas holiday effect, a general recovery is observed in the cryptocurrency market. The global market value increased by 3.50%, reaching $3.44 trillion. While the trading volume in the last 24 hours decreased by 16%, the Crypto Fear and Greed Index remained stable at 73, indicating that the "greed" atmosphere still continues in the market.
Bitcoin (BTC) is trading above $98,000 after the Christmas holiday and is currently trading at $98,220.3. After reaching $99,000, BTC has since pulled back a bit, but continues to lead the market. Ethereum (ETH) is in the spotlight, rising 3% to $3,496.4. Popular altcoins like XRP and Solana (SOL) are also showing gains. Investors are saying that the market is preparing for a new wave of gains after taking profits.
Meme coins also benefited from this positive atmosphere. Dogecoin (DOGE) gained 3% in the last 24 hours to $0.332977, while Shiba Inu (SHIB) increased by 4%. Investors are trying to turn the volatility of these coins into an opportunity.
FARTCOIN, Pudgy Penguins (PENGU) and Movement (MOVE) were among the digital assets that gained the most value in the last 24 hours. FARTCOIN gained 72%, PENGU 28% and MOVE 18%. The market value and trading volume of these assets also increased significantly.
A complex picture draws attention in the ETF market. While net outflows continue in Bitcoin ETFs, according to SoSoValue, the net outflow amount reached $338.4 million on Tuesday. BlackRock Bitcoin ETF (IBIT) recorded the largest outflow with $188.7 million, while Fidelity and ARK ETFs also experienced similar outflows. However, net inflows stood out in Ethereum ETFs. BlackRock’s iShares Ethereum ETF (ETHA) supported the market with a net inflow of $43.9 million.
In the cryptocurrency mining space, Russia’s new regulations are drawing attention. The country has decided to ban cryptocurrency mining in six regions by 2031. This move creates uncertainty for market players, while the impact of the regulations is being closely monitored. In addition, Binance and its CEO Changpeng Zhao have requested the dismissal of the lawsuit filed by the US SEC.