Oh boy, the altcoins are swimming in a sea of red once again. It's like a horror film for crypto fans, but hey, who doesn't love a good thriller?
Bitcoin's recent rollercoaster ride took a nosedive after its relief rally hit a wall at the $100,000 mark. It got pushed down hard, dragging its altcoin buddies along for the bumpy ride. We're talking big names like LINK, AVAX, ADA, SUI, and more, all seeing significant price drops.
Last week was a wild one for Bitcoin. After the latest FOMC meeting, it took a nosedive from $108,000 to $92,000 faster than you could say “crypto crash.” But like a phoenix, it tried to rise from the ashes, bouncing back to almost $99,500 over the weekend. Just when the bulls thought they had it in the bag, Bitcoin stumbled again at the start of the workweek, tumbling back to $92,000. The bulls rallied for another push, bringing it up to $99,200 on Christmas Eve, but alas, it couldn't break the $100,000 barrier and slid back under $96,000.
If you're into the latest market gossip, this juicy update is all you need to keep up with the ever-dramatic crypto markets. It's like your daily soap opera, but with more numbers and less drama (okay, maybe not less drama).
Bitcoin's market cap dipped below $1.9 trillion, while its dominance over the altcoins grew to 54.6%. Meanwhile, the altcoins tried to put on a brave face, but red is the color of the day across the board. Ethereum hit a brick wall at $3,500 and now sits below $3,400 after a 3.5% drop. XRP, DOGE, SOL, BNB, TRX, and TON are all singing the blues with similar declines.
The real heartbreakers, though, are ADA, AVAX, LINK, SHIB, HBAR, XLM, and DOT, each suffering losses of up to 9%. AAVE, ONDO, and HYPE took an even steeper dive, each plummeting by 10%.
All in all, the crypto world has seen over $100 billion vanish, leaving the total market cap at $3.460 trillion. Buckle up, folks, it's a wild ride out there!
