Why Bitcoin, Ethereum, and Dogecoin Dipped Following Christmas
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A so-called Santa Claus rally to round out a fiscal year is a phenomenon many are hoping to see play out in the crypto world. Thus far, the 24-hour moves seen in Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) indicate that such a rally toward year-end may take additional time to materialize, or perhaps not materialize at all. These top cryptocurrencies are each down 3.6%, 4.6%, and 5.7%, respectively, over the last 24 hours, as of 2:30 p.m. ET.
Very thin trading volumes in equities and other assets are common around the holidays, and there is a similar phenomenon in the world of crypto. That said, today's selling pressure has been notable, and has once again taken Bitcoin below the key $100,000 threshold, with Ethereum continuing to hover around $3,300 and Dogecoin trading at around $0.31.
Let's dive into what's driving today's price action in these top digital assets.
Source Fool.com
