#XmasCryptoMiracles

During the 2024 Christmas holidays, the cryptocurrency market experienced significant fluctuations. In particular, on December 23, the transfer of $49.4 million in bitcoins from Mt.Gox wallets triggered a sell-off, which led to a drop in the price of bitcoin to $92,500. 

Analysts at QCP Capital noted that the expected Christmas rally did not occur due to weakening liquidity and continued outflows from cryptocurrency ETFs. They also pointed to the potential for high market volatility after the expiration on December 27. 

In general, in previous years, bitcoin has shown mixed dynamics during the Christmas holidays, with periods of both growth and decline. For example, in 2019 and 2021, there was a decline, while in 2020 and 2023 - growth. 

Thus, the fall in cryptocurrencies on Christmas 2024 can be explained by a combination of factors such as large transactions, reduced liquidity and outflows from investment funds, which affected the overall market sentiment. $#BTC