Bitcoin sailed to a one-week high of $99,800 during overnight trading, narrowly missing the crucial $100,000 milestone. Ethereum witnessed a bumpy trajectory, wobbling between $3,440 and $3,510.
In the last 24 hours, over $200 million was liquidated from the market, with long liquidations accounting for $115 million. Bitcoin’s Open Interest rose marginally by 0.24%, while funding rates on top exchanges indicated that traders expected a price rise.
The global cryptocurrency market capitalization stood at $3.43 trillion, following a decrease of 0.11% in the last 24 hours. Stock futures were broadly unchanged overnight, with the Dow Jones Industrial Average Futures down 0.06%.
Leading analysts are optimistic about Bitcoin’s prospects, with Santiment revealing a positive crowd sentiment after the bullish Christmas rally. Ali Martinez deemed $97,300 as the “most significant support” for Bitcoin.
Despite narrow misses to major milestones, Bitcoin remains a strong performer in the market, defying downward price action and ending the year on a steady note.
Source: https://www.benzinga.com/24/12/42679707/bitcoin-ethereum-gain-dogecoin-slips-as-sentiment-turns-positive-on-christmas-analyst-throws-reality-check-for-overexcited-participants