Like the ball on New Year's, crypto prices dropped. That didn't deter the data.
The combined market capitalization of all cryptocurrencies shed over $100 billion from its intraday peak,The crypto market cap was down more than $100 billion from its intraday peak. Source: CoinGecko
The sudden reversal followed a modest relief rally for BTC and other cryptocurrencies that took place early on Dec. 31. As Cointelegraph reported, in less than an hour — a rally that may have been aided by a December options expiry event worth roughly $6 billion.Crypto OGs keep on accumulating Bitcoin is bracing for a year-to-date return of less than 60%, which is well below what many, if not most, prognosticators were calling for at the start of 2021. Although BTC never came close to achieving lofty six-figure valuations, the leading cryptocurrency continues to attract investors with a low time preference.
BTC’s recent price correction has been largely driven by so-called crypto tourists who entered the market in the summer. As Cointelegraph recently reported, veteran holders are still
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