Bitcoin and altcoins started the new week with losses, continuing the downward trend from the past week before the Christmas holiday season. After several weeks displaying a positive outlook in the cryptocurrency market, it has now entered a negative zone, which has caused concern among investors.
While investors were expecting a Christmas rally for Bitcoin and altcoins, there are speculations that the market could experience a downturn. Currently, the largest cryptocurrency, BTC, is trading at $41,089, down 2.11% in the last 24 hours, with its trading volume increasing by 35.71% to $18.65 billion.
Ethereum (ETH) is trading at $2,176, down 1.96% over the past 24 hours, and its trading volume increased by 25.32% to $8.10 billion. XRP‘s price has fallen by 2.20% to $0.6065, with a trading volume increase of 29.93%.
Solana (SOL) and Cardano (ADA) are also showing a similar downward trend. SOL’s price has decreased by 5.23% to $70, and ADA’s price has dropped by 6.1% to $0.5751. The trading volume for both has increased.
The total value of the cryptocurrency market has decreased by 2.32% to $1.55 trillion. However, during the same period, the trading volume has increased by 11.13% reaching $50.95 billion. The market’s fear and greed index is at the level of 70, being interpreted as an indicator of “greed”.