Derived from Benzinga, leading cryptocurrencies like Bitcoin and Ethereum showed resilience on Christmas day, maintaining gains from the previous day. Bitcoin reached a one-week high of $99,800, just shy of the $100,000 mark, after hitting $98,000 on Christmas Eve. Ethereum experienced volatility, fluctuating between $3,440 and $3,510. Despite these movements, trading volumes for both cryptocurrencies were significantly lower. Over $200 million was liquidated in the market, with long liquidations making up $115 million. Bitcoin's Open Interest saw a slight increase of 0.24%, while the Long/Short Ratio indicated a decline in traders betting on price increases. Funding rates on major exchanges rose, suggesting expectations of a price rise. Analyst Ali Martinez identified $97,300 as a crucial support level for Bitcoin. On-chain analytics firm Santiment noted positive sentiment, with speculation of Bitcoin reaching $110,000, though historically such levels are achieved when least expected.
Bitcoin Nears $100K, Ethereum Wobbles Amid Christmas Rally
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