Get ready for a wild ride in the crypto world, folks! It looks like XLM is taking a nosedive, joining the ranks of big-name altcoins that are having a rough time. The much-hyped Santa Claus rally is nowhere to be found, as Bitcoin keeps sliding down, dipping below the $94,000 mark.
Altcoins are feeling the heat too, with XRP taking a 6% plunge, and XLM not far behind. The crypto scene is not bringing much holiday cheer as 2024 wraps up. Bitcoin started its downward journey on December 17, when it was cruising at over $108,000. But, in what seemed like the blink of an eye, it lost a whopping $16,000 and tumbled down to $92,000.
The bulls tried to step in, stopping it from dropping further below $90,000. There were moments of hope when BTC made attempts to break past $100,000, but each time it was pushed back. Just a couple of days ago, on December 26, BTC made another run for it, hitting the $100,000 line, only to be swiftly rejected.
The weekend wasn't kind either, pushing Bitcoin down to $95,000. And in the last 24 hours, it's taken another hit, slipping to $93,000. Although it's trying to bounce back, it's still down by over 1% today.
Bitcoin's market cap has taken a dive too, falling under $1.860 trillion and its dominance over altcoins is holding at 54%. Most altcoins are seeing red today, with XRP leading the charge and threatening to drop below the $2 mark. If it does, experts predict another major drop heading towards $1.
XLM is also having a tough time, shedding nearly 5% of its value and trading way below $0.35. Other altcoins like BNB, SOL, DOGE, ADA, TRX, AVAX, LINK, TON, and SUI are also feeling the pinch, but they're not hurting as much.
In total, the crypto market cap has shed another $60 billion since yesterday, now sitting at $3.430 trillion. Keep your eyes peeled and your wallets ready because the crypto rollercoaster is far from over!
