Bitcoin Takes a Holiday Tumble

Is Santa Missing?

Author

Rich Webb
December 24, 2024 • Read Time: 9 minutes

Just when we thought the holiday season couldn't get any more unpredictable, Bitcoin decided to take on the role of the Grinch, slipping below $93,000—a price not seen since Thanksgiving.

The much-anticipated ‘Santa Rally’ seems to be missing in action, leaving investors scratching their heads as the Federal Reserve's cautious stance added a cold chill to the market.

With Bitcoin leading the descent and altcoins like Ethereum and Solana following suit, one can't help but wonder if there's any holiday cheer left in the crypto world this year. Let's dive in!

  • Crypto prices nosedive as the Fed cuts rates while dismissing Bitcoin reserve rumors, causing widespread selling pressure. — Read More

  • Trump may issue a crypto executive order on his first day in office, Reuters reports. — Read More

  • Bernie Moreno, a pro-crypto senator-elect, is joining the U.S. Senate Banking Committee, enhancing blockchain advocacy's power in Washington. — Read More

  • Crypto.com rolls out institutional cryptocurrency custody in the US amid plans to enhance its market presence. — Read More

  • Max Moeller explains the importance of ETF fund flows as a tool for gauging investor sentiment and market trends. — Read More

  • North Korean hackers have stolen $1.34 billion in 2024, nearly doubling the previous year's thefts with Russia's help. — Read More

  • Singapore awarded 13 crypto licenses in 2024, with firms like OKX and Upbit, while Hong Kong lags with restrictive policies. — Read More

Bitcoin's Santa Rally Absent as Prices Drop

Bitcoin crashes to lowest in a month amid Fed's hawkish stance, potential Santa rally evaporates.

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BTC drops 15% from its record high, likely entering a larger correction.

Bitcoin Options Expiry: Impact on Traders and Market Trends

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Altcoins Shine as Bitcoin Stays Sluggish at $94K

Bitcoin stalls at $94K while altcoins, like ETH and XRP, show sizable gains.

Bitcoin ETFs Bleed $1.2B Amid Market Correction

Bitcoin ETFs suffer $1.2 billion outflow in three days, while some altcoins rally.

Institutional Bitcoin Ownership Rises to 31%

Institutional investors now hold 31% of Bitcoin, driven by ETFs, government acquisitions, and MicroStrategy.

Ethereum Price Struggles Amidst Market Volatility

Ethereum dips below $3,450 but eyes recovery if it overcomes $3,445 resistance.

BlackRock's Ethereum Trust ETF Accumulates Over 1 Million ETH Amid Lackluster Price Performance

While Ethereum struggles to break $4,000, BlackRock’s ETF accumulates over 1 million ETH, highlighting strong institutional demand.

Ethereum ETFs Surge Amid Bitcoin ETF Outflows

Ethereum ETFs rebound with $130.8M inflow, while Bitcoin ETFs struggle with $226.6M inflow but continued overall outflows.

Solana's SOL Offers Second Chance on Bullish Breakout

Solana's SOL price surges 7%, presenting a second chance for bullish breakout traders.

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Hoskinson Criticizes Cardano Foundation's Centralized Governance

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Altcoin Season Analysis: What to Expect Next

Altcoin season is approaching as many altcoins surpass Bitcoin's 69.9% performance over 90 days, but not all have outperformed BTC.

XRP Whales Set Stage for Potential Rally

XRP drops below $2 but recovers to $2.25 as analysts predict a major rally.

Sui's Slump Could Be the Start of a Solana-like Surge

Sui drops 3.5% but shows potential as the 'next Solana,' bolstered by bullish forecasts and solid fundamentals.

Chainlink's Smart Value Recapture (SVR) aims to reclaim MEV for DeFi protocols, spiking LINK's price by 9%.

Nokia Files Patent for Digital Asset Encryption

Nokia patents encryption device for digital assets, stepping into blockchain security.

Is APAC Setting the Stage for Web3 and AI Leadership?

APAC shows potential to lead Web3 and AI innovation despite regulatory and infrastructural challenges.

TeraWulf Shifts Focus to AI Amid Rising Bitcoin Costs

TeraWulf leases 70 MW for AI to offset climbing Bitcoin mining expenses.

Hacken Launches AI Tool for MiCA Compliance

Hacken introduces AI-driven tool for compliance with MiCA and DORA, offering unique real-time protection features.

Argentina Seizes $3.5M USDT from Rainbowex

Argentina confiscates $3.5 million in USDT from Rainbowex in a major operation.

Russia to enforce regional crypto mining restrictions by 2025

Russia plans to control crypto mining regionally from January 2025, citing energy concerns and price disparities.

India Faces $2 Billion Tax Loss as Crypto Traders Go Offshore

India risks losing $2 billion in cryptocurrency tax revenue as traders shift to foreign platforms, report finds.

Philippines SEC Drafts New Crypto Regulation Framework

The Philippines SEC proposes draft rules for regulating crypto service providers, inviting public feedback by January 18, 2025.

FSC Denies Crypto Purchase Reports for South Korean Firms

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California Duo Charged for $22M NFT Fraud

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