The current trade price of Bitcoin is $95,427 & this price level is 7% down over the last 24 hours period.
The current trade price of Bitcoin is $95,427 pic.twitter.com/jiks0CWxqO
— Bitcoinik (@Bitcoinikdotcom) December 20, 2024
Notably, today the highest & lowest trade price of Bitcoin was $102,877 & $92,290, which means Bitcoin saw more than -10%+ dumps in only 24 hours.
A crypto analyst shared his analysis-based opinion & said that the latest correction in Bitcoin price is very usual and it happens in every bull run.
#Bitcoin Staying on Course 💥Corrections are part of every #BTC bull run.Not convinced? Look back at how brutal corrections were in past cycles.The bull market is not over. 🚀 pic.twitter.com/wlINJiAcjg
— Titan of Crypto (@Washigorira) December 20, 2024
In the same time period, Ethereum crashed nearly 15%, which is a significant dump for this second top-ranked Cryptocurrency, amid the bull run in the Crypto sector.
The current trade price of Ethereum is $3,296 pic.twitter.com/Cs2mUWaKRR
— Bitcoinik (@Bitcoinikdotcom) December 20, 2024
Already Yesterday, we reported that panic among the Bitcoin traders came into play because of a non-Bitcoin-friendly loan deal between a Bitcoin bull country El Salvador & International Monetary Fund (IMF).
Here is the reason behind this price downfall https://t.co/qwa6Z4wiyQBad news for Bitcoin! El Salvador decides to limit the use of Bitcoin at government level
— Bitcoinik (@Bitcoinikdotcom) December 19, 2024
Notably, the El Salvador government purchased $1 million worth of Bitcoins today, despite being in a loan deal with the IMF body.
🇸🇻Just one day after the IMF agreed to a $3.3b loan in return for making Bitcoin acceptance voluntary, El Salvador buys $1m Bitcoin, more than 10x their usual 1 $BTC per day purchase.I guess the IMF won… 😅 pic.twitter.com/fCqYJLl5d2
— Bitcoin Archive (@BTC_Archive) December 20, 2024
Christmas Eve & New Year
The start of this week with the Bitcoin dump hinted that a big rally in the trade price of Bitcoin has been planned just before Christmas.Some crypto trading experts claim that it is a good sign that Bitcoin will show strong pump momentum this month, especially on the occasion of Christmas Eve.
Also, we know that the new year heading & the past several years are proof that January always comes with a bull momentum for Bitcoin. It is expected that at least a 20% pump in the trade price of Bitcoin will take place.
More capital inflow in Bitcoin & Ethereum market
Today, the United States Securities and Exchange Commission (SEC) approved the first spot Bitcoin and Ethereum combo ETFs from Hashdex and Franklin Templeton.
JUST IN: 🇺🇸 SEC approves Hashdex Nasdaq #Bitcoin & Ethereum ETF. pic.twitter.com/ewrfRHVsMk
— Bitcoin Archive (@BTC_Archive) December 19, 2024
It means investors will get exposure to Ethereum & Bitcoin simultaneously with a single ETF product.
Read also: Top big companies buy $2 billion Bitcoin but still price crashes: Here is the reason?
