Christmas gift as MOVE, BGB, ZEC lead altcoin gainers

Cryptocurrencies including Movement, Bitget Token, and Zcash made major gains as Santa’s gifts saw significant price increases on December 25.

With Bitcoin (BTC) recovering somewhat after trading near $92,000 on December 23, gains above $98,000 were reflected in some altcoins.

Supported by various factors and catalysts, some altcoins have surged more than 30%.

Among the top cryptocurrencies, Movement (MOVE), Bitget Token (BGB), and Zcash (ZEC) are up more than 31%, 18%, and 9% respectively.

Altcoins topped the top 100 cryptocurrencies by market cap. Gains for most altcoins kept the overall market cap above $3.5 trillion despite a 2% drop in 24 hours.

Crypto’s daily trading volume is $156 billion, BTC dominance is 54.5%, and the crypto greed and fear index remains at 62. This latest measure suggests that overall sentiment remains bullish, with a potential return to higher risk appetite.

Bitcoin bull and MicroStrategy plan mastermind Michael Saylor shared his optimism.

Earlier, analysts at QCP Capital outlined the market outlook. According to them, in the next few weeks, we may see altcoins rise due to capital rotation.

“BTC remains range-bound below the 100,000 level and history suggests we could see typical end-of-quarter volatility sell-offs post-expiration. However, if BTC exceeds 100,000, volatility may continue and create new momentum. Meanwhile, altcoins may attract attention. While #BTC dominance stands at 58%, a drop below this level could confirm a pivot towards altcoins; “Similar to what we saw last month when ETHBTC bounced off the 0.032 support.”

QCP

In addition to MOVE, ZEC and BGB tokens, other prominent cryptocurrencies of the day included Fartcoin, Solana protocol Raydium and Virtuals Protocol.

On the other hand, Hyperliquid, Stellar and Celestia were among the biggest losers in the last 24 hours.