
Christmas Bull Run for Crypto Market! BTC Nears $100K, Altcoins Soar
The crypto market has kicked off the holiday season with a festive bull run, as major assets like Bitcoin and several altcoins experience significant growth. Over the past 24 hours, we’ve seen substantial increases in value across various cryptocurrencies.
As of this writing, Ethereum (ETH) has surged by an impressive 5%, now trading at $3,500 per unit. XRP (XRP) also showed remarkable resilience, climbing 7.5% to reach a new high of $2.33. BNB (BNB), the native cryptocurrency of the popular Binance exchange, rose 2.1%, pushing its value closer to $700.
Solana (SOL) has also made significant gains, with a gain of 6.1% that brought it within striking distance of the $200 mark. Meanwhile, Cardano (ADA) has seen its value rise by 6.6%, now trading at $0.94.
In a shocking turn of events, Avalanche (AVAX) stole the show, with an astonishing growth rate of 12.2%. As a result, its value surpassed $41 per unit.
On the other hand, Dogecoin (DOGE), which has been gaining popularity recently, has also experienced a 7.5% increase in price and is now trading around $0.334.
Despite this optimism, some analysts are warning of potential risks. Rekt Capital, a trader and analyst, stressed the importance for Bitcoin to reclaim previously lost support levels to avoid further declines and maintain its bullish trajectory.
As Bitcoin continues to rise, it has also outperformed traditional markets such as US stocks. The S&P 500 and Nasdaq 100 indices both saw modest increases of less than 1%, reinforcing the idea that the crypto market may be gaining traction once again.
However, this growth remains fragile due to inherent risks, and traders should remain cautious.
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Source: crypto-economy.com