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Bitcoin Today 12/24/2024: BTC remains below US$ 95 thousand while altcoins register an increase
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THE Bitcoin (BTC) price today continues to perform below expectationswith its price fluctuating close to US$94 thousand this Tuesday (24th), Christmas Eve. After reaching an all-time high of more than $108,000 last week, the leading cryptocurrency faced a series of corrections, resulting in a sharp drop.
Last week, the Bitcoin started a downward movementrising from US$ 105 thousand to US$ 92 thousand during Friday. Despite a slight recovery momentum over the weekend, which briefly lifted the price above US$99,000, the asset fell again at the beginning of this week.
At the time of writing this article, the Bitcoin is quoted at US$94,160with a daily drop of 1.7%. The weekly devaluation already exceeds 12%, according to data from CoinGecko.
This negative performance of Bitcoin may be related to the increase in net outflows from ETFs based in the United States, according to market experts.
Price of Bitcoin today and other cryptocurrencies
For analysts, altcoins could start receiving capital from BTCwhile the cryptocurrency struggles below US$100,000.
As Bitcoin struggles to regain ground, several altcoins showed superior performance in the last 24 hours. THE Ethereum (ETH)for example, is up 2.2% to its current price of $3,404. In the same way, Binance Coin (BNB), Ripple (XRP) and Dogecoin (DOGE) also jumped about 2.0% in the last 24 hours.
Other assets, such as Avalanche (AVAX), Chainlink (LINK) and SUI, achieved more pronounced gains, in the range of 5% to 6%. Special emphasis goes to cryptocurrencies such as HBAR and AAVEwhich showed double-digit valuations of around 10%.
Among the biggest earners in the top 100, the following stand out:
Despite the Bitcoin instabilitythe market as a whole registered growth. The total market value of cryptocurrencies increased by around $20 billion from the previous day, surpassing US$3.46 trillion. Bitcoin’s dominance is at 53.9% and Ethereum’s is at 11.8%, according to data from CoinGecko.
Regarding the future, analyst Alex Kuptsikevich, from FxPro, highlighted that he expects the Bitcoin falls to the $90,000 level. According to him, this will be a good shopping area:
Bitcoin Today 12/24/2024: BTC remains below US$ 95 thousand while altcoins register an increase
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Bitcoin Today 12/24/2024: BTC remains below US$ 95 thousand while altcoins register an increase
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Bitcoin Today 12/24/2024: BTC remains below US$ 95 thousand while altcoins register an increase
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Bitcoin Today 12/24/2024: BTC remains below US$ 95 thousand while altcoins register an increase
