The cryptocurrency market appears to have lost its Christmas cheer. Major tokens — including Bitcoin, Ethereum, and XRP — ended lower than their previous close on Friday. The slump in prices comes amid increasing volatility in the market.
However, this could change as optimism grows that the US Securities and Exchange Commission (SEC) would give its blessing to a spot Bitcoin exchange-traded fund (ETF) before Jan 10, 2024. The dip in the crypto market can be partially attributed to the inactivity of whales and investors, who might have taken a week off for the holidays.
All major cryptocurrencies were swimming in the red on Saturday, with the OG token Bitcoin (BTC) sliding by 1.6% to $42,030 per bitcoin. Interestingly, the 24-hour trading volume was up by 0.7% at $23.7 billion. Notably, Bitcoin has appreciated 10% in the last 30 days and is up 153% year-to-date.
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