Bitcoin (BTC) Falls Below $94,000, Ripple (XRP) Falls Towards $2 (Market Watch)

The much-anticipated appearance of Santa Claus is nowhere to be seen as bitcoin continues to lose value falling below $94,000.

Altcoins are also mostly in the red, with XRP dumping 6% and XLM following suit.

BTC fails to recover

It hasn’t been a particularly hopeful end to 2024 on a micro scale. The asset began its painful decline on December 17 when its price rose above $108,000. In just three days, he had lost about $16,000 and it had plunged to $92,000.

Bulls intercepted the move and helped prevent a further drop below $90,000. In fact, BTC started to regain some ground and surged towards $100,000 on a couple of occasions, but to no avail. The last such example was on December 26 when BTC touched this line, but was quickly rejected once again.

The subsequent drop pushed it hard south and the asset fell to $95,000 over the weekend. However, the picture worsened in the last 24 hours and fell further to $93,000. Despite bouncing off that level, BTC is still down more than 1% on the day for now.

Its market cap has fallen below $1.860 trillion in CG, and its dominance over the highs stands at 54%.

Bitcoin/Price/Chart 12/30/2024. Source: TradingView XRP continues to bleed

Most altcoins are back in the red today. The trend is led by XRP, which continues its decline and is now close to breaking below $2. If it falls below this level, analysts predict another massive decline towards $1.

XLM has also fallen heavily from larger-cap alternatives, losing almost 5% of value and trading well below $0.35. BNB, SOL, DOGE, ADA, TRX, AVAX, LINK, TON, SUI and many others are also in the red, albeit in a less painful way.

The total crypto market cap has lost another $60 billion since yesterday and is down to $3.430 trillion in CG.

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