Bitcoin Dips to $96k as Boxing Day Rally Failed to Top $100k

TL;DR

• Bitcoin rallied to the $99k level on Thursday before dipping below $95k.

• The broader crypto market recorded bigger losses.

BTC Fails to Hit $100k on Christmas Rally

Bitcoin, the leading cryptocurrency by market cap, rallied during the holidays. The coin rallied to the $99,800 mark on Boxing Day after trading below $93k earlier this week.

However, the rally failed to break past the $100k psychological level and is now trading below $97k again. At press time, Bitcoin’s price stands at $96,203, down more than 2% in the last 24 hours. 

Despite the recent retrace, Bitcoin’s price is still up more than 100% year-to-date, making it one of the best-performing macro assets globally. 

With Bitcoin briefly dropping below $96k, altcoins also recorded greater losses on Thursday. Ether, the second-largest cryptocurrency by market cap, is down almost 2% and still trades around $3,300 per coin.

XRP is the worst performer among the top 10 cryptocurrencies by market cap, losing 4% of its value in the last 24 hours. However, it maintains its position as the fourth-largest cryptocurrency by market cap.

Tron’s TRX is the only major cryptocurrency currently in the green. TRX is up 1% since Thursday, trading at $0.2578.