Crypto market snapshot Dec 20: Bitcoin falls below $98K, MOVE jumps 30%

(Originally posted on : Invezz )

The cryptocurrency market experienced a bearish spell today.

Bitcoin (BTC) slipped below the $98,000 mark, marking a 3% drop in the last 24 hours.

Major altcoins like Ethereum (ETH) and Solana (SOL) also declined by 3% to 5%, contributing to the broader market’s downturn.

Despite the slide, Movement (MOVE) and ZEREBRO emerged as top performers, with MOVE climbing 30% and ZEREBRO skyrocketing by 56%.

The global crypto market cap dropped by 2% to $3.34 trillion, while trading volumes rose by 3.42% to $280 billion, signaling mixed investor sentiment.

Bitcoin price analysis

At press time, Bitcoin was trading at $97,634, with a 24-hour range of $95,671 to $102,849.

The market cap stands at $1.93 trillion, maintaining a dominance of 57.17%.

ETFs linked to BTC saw significant outflows, with major players like SoSo Value, Fidelity, and Grayscale reporting over $1 billion in withdrawals.

Ethereum price analysis

Ethereum’s price dropped to $3,441, reflecting a 6% decline.

ETH ETFs also witnessed outflows, with Grayscale offloading $61 million worth of assets.

The 24-hour trading range was between $3,334 and $3,721, as market uncertainty continues to weigh on investor confidence.

Altcoin highlights

• XRP: Trading at $2.33, up 1%, despite recent volatility stemming from the RLUSD stablecoin launch.
• Solana (SOL): Down 5% to $197, facing selling pressure even as meme coin Fartcoin surged 500% in 11 days.

Meme and micro-cap movers

Dogecoin (DOGE) and Shiba Inu (SHIB) dropped 10% and 8%, respectively, following broader market trends.

In contrast, ZEREBRO surged by 56% to $0.43, and MOVE rose 30% to $0.86, bolstered by strong trading momentum.

Top losers

Pudgy Penguins (PENGU) saw the steepest decline, losing 14% to trade at $0.028, while Lido DAO (LDO) and Ethena (ENA) fell 12% and 11%, respectively, under market pressure.

The crypto market remains volatile, with investors balancing profit-taking and emerging opportunities. Stay tuned for further updates on market trends and price movements.

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