The highly anticipated Santa gathering is nowhere to be seen as Bitcoin continues to lose value falling below $94,000.
Altcoins are also mostly in the red, with XRP dumping 6% and XLM following suit.
BTC fails during recovery
The end of 2024 hasn’t been particularly promising on a small scale. The asset began its painful decline on December 17 when its price rose above $108,000. In just three days, it lost around $16,000 and fell to $92,000.
The bulls intercepted the move and helped prevent a further fall below $90,000. In fact, BTC started to regain some ground and climbed up to $100,000 several times, but to no avail. The last such example was on December 26, when BTC touched this line but was quickly rejected again.
The ensuing decline pushed it south and the asset fell to $95,000 over the weekend. However, the situation deteriorated over the last 24 hours and dropped further to $93,000. Despite the rebound from this level, for now, BTC is still down more than 1% on the day.
Its market cap has fallen to less than $1.86 trillion on CG, and its dominance on alts stands at 54%.
XRP continues to bleed
Most altcoins are in the red again today. The trend is led by XRP, which continues its fall and is now on the verge of falling below $2. If it falls below this level, analysts predict another massive drop towards $1.
XLM also fell sharply against larger-cap alts, losing almost 5% of its value and trading well below $0.35. BNB, SOL, DOGE, ADA, TRX, AVAX, LINK, TON, SUI and many others are also in the red, albeit in a less painful way.
The total crypto market cap lost another $60 billion since yesterday and fell to $3.430 trillion on CG.
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Cryptocurrency charts by TradingView.
