Bitcoin, Dogecoin Dip, Ethereum Gains As ‘Santa Rally’ Loses Steam: Here’s Why Things Could Look Up For BTC In 2025
Leading cryptocurrencies declined Sunday as the “Santa Claus Rally” faded heading into the New Year.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -1.25% | $93,670.65 |
| Ethereum (CRYPTO: ETH) |
+1.15% | $3,338.32 |
| Dogecoin (CRYPTO: DOGE) | -3.03% | $0.3142 |
What Happened: Bitcoin slipped below $93,000 in the evening but recovered to $93,600 as traders purchased the dip.
The market has dramatically reversed course since the leading cryptocurrency teased the $100,000 level on Christmas.
Bitcoin was down 2.79% in December, compared to gains of 4.76% for the month on average.
Ethereum followed a similar trajectory until a brief surge late in the evening, which resulted in 24-hour gains for the cryptocurrency.
Nearly $160 million was liquidated from the market in the last 24 hours, with long liquidations accounting for $117 million.
Bitcoin’s Open Interest fell 0.16% in the last 24 hours, coinciding with the drop in price.
However, traders were hopeful of a price rebound as the number of long positions for …
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