TL;DR Breakdown
- The global crypto market has dipped 0.55% since yesterday.
- Bitcoin records a 1.75% loss, grazing $49k again.
- Ethereum continues to cling onto $4,060 but is falling rapidly.
- Solana’s substantial gains keep it afloat as a bearish run threatens its $194.58 price.
- Cardano continues moving forward with a 1.44% gain.
It seems that our fun was short-lived; the crypto market is back to its old ways as another bearish run begins to make its mark. As expected, the bullish run didn’t last much farther past Christmas; on the contrary, it began to die out as soon as Christmas day made an orbit around the world. A new bearish run is starting to take over, making our top cryptocurrencies suffer losses after working hard to gain values over the week.
Will the trend of losing end for the top cryptocurrencies? Will Bitcoin, Ethereum, Binance, etc., continue to fight a losing battle? There’s not much we can do to answer these questions except waiting. The crypto market cap has fallen by $2B in the last twenty-four hours. It is now at $2,348,912,454,427, making investors worry whether the market is losing steam or not. It seems like we continue to march towards the red charts no matter how strong a bullish run we face. Will the crypto market suffer a lousy end to a year? Or will it turn things around with its head held high?
Bitcoin and Ethereum prepare themselves.
As we all know, Bitcoin and Ethereum are no strangers to bullish runs. Maybe it’d be a tad dramatic of us to say that the past month has been hellish for Bitcoin and Ethereum. The two cryptocurrencies have walked side by side for months, continuously straining and trying to keep up with the fluctuations. Bitcoin is again pulling the short end of the stick, showing 1.75% losses and dropping to $50,020 in one night. Its market cap matches at $945,588,993,613.
As for Ethereum, the top altcoin is trying to push forward with all its might to keep from falling below $4,000 but loses value by the minute. It won’t be long until it suffers the same fate as Bitcoin and drops to $3.9k. At the time of writing, ETH trades at $4,050, but its trading volume suffers 2.25% losses, reaching $11,789,968,349. Ethereum’s market cap has reached $481,152,350,401, beginning to fall rapidly just as it was nearing the $500B mark.
Solana and Cardano struggle against the tides
Solana has been on the chopping block almost as much as Bitcoin and Ethereum. However, the one significant difference between Solana and the top two cryptocurrencies is their inherent price differences. While Bitcoin and Ethereum trade in the thousands, Solana trades in the hundreds, it is still a very prominent cryptocurrency, ranking #5th on the crypto market’s top cryptocurrencies.
Solana is not spared in the bearish run, dropping to a $193.20 price after a 0.67% loss. Its market cap currently rests at $59,530,615,864 while the trading volume suffers. The same can be said for Cardano. The cryptocurrency has always followed Solana hot on its heels, and they were once enemies for the #5th spot before Solana bridged the gap too strongly. Cardano also shows signs of price losses, dropping to $1.42 in a few short hours while its market cap rests at $59,530,615,864.
Conclusion
It seems that as a Christmas gift to the crypto investment market, the crypto market has served a bearish run as it tests investors’ patience. Can our top cryptocurrencies make it out of the year with their current prices intact? Or will we fall back to the previous low prices we’ve been desperately trying to escape? Let’s wait and see how it unfolds.
