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Bitcoin, Ethereum, and Dogecoin plummet after Christmas – Is this the new trend?
As we step into the new year, the crypto market is facing a significant downturn, with Bitcoin, Ethereum, and Dogecoin plummeting in value. The sudden drop has left many wondering if this is a temporary dip or a sign of a larger trend.
In 2021 and 2022, it was noticed that the prices of these assets tend to see a significant decline in the week following Christmas. This year’s data seems to be mirroring the same pattern, with all three major cryptocurrencies experiencing a drastic fall.
As we delve deeper into the data, the picture becomes even more interesting. The open interest (OI) trend suggests that traders and investors remain cautious, hesitant to take on significant positions or make large moves in the market. This lack of enthusiasm is evident across the board, as no asset seems immune to this bearish sentiment.
While it’s difficult to predict with certainty whether this trend will continue or not, it’s important for investors to consider the data and make informed decisions accordingly.
Source: ambcrypto.com
