LINK Falls 9% Daily As BTC Falls To $94,000 (Weekend Watch)

Year-end Bitcoin price action is quite underwhelming as the asset dropped from $97,000 to below $94,000 yesterday and is down fourteen thousand since last Tuesday’s peak.

Altcoins have also suffered, with many violent price corrections such as AVAX, LINK, SUI and others.

There is no end to BTC’s struggles

The Fed-induced correction began last week when bitcoin fell from its recent all-time high of over $108,000 to $92,000 in a matter of days. It managed to regain some ground last weekend and even rose to $99,000, but it was short-lived and the asset headed straight south on Monday.

After another dip towards $92,000, the bull took over and pushed it to a multi-day high of just under $100,000. However, this rally also quickly stalled and bitcoin began to lose value once again in the following days.

After failing at $97,000 yesterday, the bears pushed it back down to below $94,000. Although it has been able to regain some ground since then and is now trading above this line, BTC is still down more than 2% on the day.

Its market cap has shrunk to $1.870 trillion at CG, and its hold on the highs has slipped to 54.4%.

Bitcoin/Price/Chart 28.12.2024. Source: TradingView Highs in red only

Altcoins are also deep red today. Ethereum stopped at $3,500 on some occasions and has now dropped to $3,360. XRP is well below $2.2, while BNB is struggling to stay above $700. SOL, ADA, DOGE and TON have produced losses of up to 3%.

Even more painful declines come from AVAX, SUI, LINK, DOT and HBAR. In fact, the Chainlink token is down almost 10% and is below $22.

Most small-cap and mid-cap alternatives are also in a similar state. Consequently, the total crypto market cap has shed $150 billion in the past two days to just over $3.4 trillion in CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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