As the holidays approach, the cryptocurrency market seems to be entering a calm period. Today, both Bitcoin (BTC) and Ethereum (ETH) have seen price declines, with BTC dropping below $95K and ETH sliding into the $3300 range. Bitcoin has been hovering around $94K for over a month and is still fluctuating between $94K and $108K.
The performance of top altcoins has also been disappointing, with most tokens falling by 1% to 5% in the past 24 hours. The overall market capitalization has decreased by about 2%, currently stabilizing at $3.28 trillion. During the holidays, many investors are immersed in the year-end atmosphere, leading to a sharp drop in trading volume by 34%.
However, the market is not always so sluggish, and it is expected that market activity will warm up in the first week of 2024, with trading volumes gradually returning to normal levels. The current fear and greed index is at 51, indicating neutral market sentiment, as everyone seems to be waiting for the right opportunity.
While the holidays have cooled the market, don't forget that this is also the beginning of potential opportunities in the crypto world.
1. Today's Bitcoin market
Bitcoin (BTC) price is trading at $94,520, down about 2% in the past 24 hours.
The analyst made a bold prediction, forecasting that Bitcoin will reach $350,000 by 2025, urging investors to prioritize self-custody over institutional ETFs.
2. Today's Ethereum market
Ethereum (ETH) price fell by about 1%, currently at $3,337, with a 24-hour low of $3,307 and a high of $3,441.
ETH ETF saw an inflow of $27 million yesterday, with Fidelity purchasing $27 million worth of Ethereum. This shift in the cryptocurrency market highlights the growing institutional interest in Ethereum.
3. Today's XRP market
As of the time of writing, the XRP price is $2.15, down about 2%. Its 24-hour low and high were $2.126 and $2.234, respectively.
Lawyer John Deaton, who supports XRP, criticized the recent cryptocurrency tax report rules released by the Biden administration.
4. Today's Solana market
Solana (SOL) price fell by 2%, trading at $185. Its 24-hour low and high were $183 and $194, respectively.
Coingape analysts reported on the reasons behind the Solana price crash.
5. Today's Meme cryptocurrency market
Today's meme cryptocurrency market has new movements! First, Dogecoin (DOGE) has slightly dropped by 1%, currently trading at $0.3142. Meanwhile, another popular coin, Shiba Inu (SHIB), has only fallen by 0.5% in the past 24 hours. It seems that the competition among meme coins is still fierce!
However, BONK has shown strong rebound momentum, rising by 4%! This surge is mainly driven by the "BURNmas" event, during which over 1 trillion BONK coins were successfully burned, further enhancing its scarcity.
In the world of meme coins, the market changes rapidly, and one must keep up with market dynamics to seize opportunities.
Today's cryptocurrency market is up.
1. Virtual Protocol (VIRTUAL)
Virtual Protocol (VIRTUAL) has become today's biggest gainer, with a price increase of 15% in the past 24 hours.
Today's cryptocurrency market has losses.
1. FTX (FTT)
FTX Token (FTT) price fell by 16%, becoming the worst-performing cryptocurrency in the past 24 hours.
2. Zcash (ZEC)
Zcash (ZEC) fell by 10%, trading at $61.72. Its 24-hour low and high were $61.61 and $68.92, respectively. This decline reflects the volatility of today's cryptocurrency market.
In addition, there has been no improvement in the hourly chart, and the prices of top altcoins and Bitcoin have not changed significantly in the past hour. It is most likely that once the holidays are over, there will be significant price changes in the cryptocurrency market next week.
