The crypto market experienced further declines in prices today as investors took a holiday break after Christmas. Analysts see this as a normal characteristic of the market during this time of year, when participants and whales tend to go on vacation. Despite the recent losses, Bitcoin has gained nearly 13% in the last 30 days, thanks to positive catalysts like Bitcoin Spot ETF speculations, upcoming Bitcoin halving, and the Fed’s dovish stance.
Bitcoin’s price was down 2.55% to $42,326.80, while Ethereum’s price fell 1.99% to $2,222.09. The Solana price dropped 8.27% to $110.41, but BNB showed resilience and added 7.75% to $289.76. XRP slumped 2.54% to $0.6201.
In the meme coin segment, Dogecoin was down 3.58% to $0.09051, while Shiba Inu plummeted 4.54% to $0.00001041.
The broader market also suffered a decline on December 27, with the global crypto market cap down 2.37% to $1.64 trillion and its one-day volume increasing by 30.54% to $82.57 billion.
Pepe Coin Slips 7%
Pepe Coin continued its decline amid a downward trend in the broader market, with a decrease of 7.02% and trading at $0.000001316 on December 27.
Mina (MINA) Adds 20%
Mina crypto stood out by gaining attention from market participants despite the negative trend in the market, with a surge of 19.84% and trading at $1.42.
Sei (SEI) Jumps 17%
Sei crypto showed strong performance, jumping 16.80% to $0.4902 on December 27, despite the slump in the broader market.
Hot Take: Crypto Market Takes a Holiday Break
The crypto market experienced a decline in prices as investors took a holiday break after Christmas. While this may be seen as a normal characteristic of the market during this time of year, it is important to note the gains that Bitcoin has achieved in recent weeks. Positive catalysts have contributed to these gains, including Bitcoin Spot ETF speculations, upcoming Bitcoin halving, and the Fed’s dovish stance. Despite the recent losses, the crypto market remains dynamic and continues to attract attention from investors.
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