🥺✨️Hopes for a "Santa rally" of Bitcoin have faded after the price hit a December low🚀
🗣 Bitcoin has fallen 14.5% since its peak this month, as the cryptocurrency plummeted below $92,500 this week.
Bitcoin dropped to its lowest price since late November, reducing hopes for a “Santa Claus rally,” which has historically generated solid gains during the holiday period in years preceding market cycle peaks.
☝️ It briefly recovered to surpass $95,000 before dropping again to $94,000 during early trading on December 24, and continues with a decline of over 11% in the last week.
Historically, cryptocurrency markets have performed well during the holiday season in bullish market periods, but Bitcoin's disappointing performance in December has dampened hopes for a so-called Santa Claus rally, a price jump during the last five trading days of December into the first two trading days of January.
