Cryptocurrencies, including Movement, Bitget Token, and Zcash, experienced impressive price rallies on December 25, spurred by Santa’s seasonal gifts and broader market momentum.
Bitcoin made notable strides, recovering from a dip to nearly $92,000 on December 23 to rise above $98,000. This rebound led to cascading gains across various altcoins, with some seeing price increases of over 30%.
Among the top-performing altcoins, Movement surged by more than 31%, Bitget Token jumped 18%, and Zcash rose by 9%. These altcoins led the charge among the 100 largest cryptocurrencies by market capitalization, contributing to an overall market cap holding steady above $3.5 trillion, despite a slight 2% drop in the last 24 hours.
The cryptocurrency market’s daily trading volume stood at $156 billion, with Bitcoin dominance at 54.5%. The crypto greed and fear index, which measures market sentiment, remained at 62, indicating a bullish outlook and a potential return of risk appetite among investors.
Michael Saylor, the Bitcoin advocate and driving force behind MicroStrategy’s Bitcoin acquisition strategy, expressed optimism for the market’s continued growth. Analysts from QCP Capital also weighed in, suggesting that altcoins could experience further rallies in the coming weeks as capital rotates within the market.
Notable performers on December 25 also included Fartcoin, Solana’s Raydium protocol, and Virtuals Protocol. However, some tokens faced losses, with Hyperliquid, Stellar, and Celestia among the top decliners in the past 24 hours.
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