CandleFocus

Bitcoin or altcoins? Find out who will win the holiday season

Author: Content Editor
Bitcoin has slipped 12% from its all-time high, dampening hopes for a "Santa Claus" rally this year. A CoinGecko report shows that the crypto market has rallied during the Christmas holidays in the past, but declining institutional investment inflow and Bitcoin's recent decline have diminished expectations. The performance of the crypto market in the last five trading days of the year and the first two trading days of the following year is crucial for determining whether a Santa Claus rally will occur. However, with Bitcoin hovering around $97,000, a pre-Christmas rally seems unlikely. The report also mentions that the total market capitalization of altcoins is showing bullish signs and could see a rally post-Christmas or in the first two trading days of 2025. Bitcoin's Q4 performance has been lackluster, and there is little evidence to suggest extended gains in the first two trading days of 2025. Additionally, BTC's decline in price is continuing despite the appointment of pro-crypto candidates by U.S. President-elect Donald Trump. The report also highlights positive developments in Asia, such as South Korea delaying its crypto taxation and large corporations in the region, like MicroStrategy, accumulating Bitcoin on their balance sheets. Bitcoin derivatives traders are bullish on BTC gains, with a spike in open interest and over $38 million in Bitcoin short positions being liquidated in the past 24 hours.

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