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Cryptocurrency Market Dips Amid Weak Performance and Holiday Season

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BTC
$87,427.20-0.48%
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ETH
$2,937.75-0.74%
The cryptocurrency market dipped 1.7% in the past day and 15% in the past year, with a total market cap of $2.94 trillion, as per BitJie. This weak performance contrasts with the 17% gain in the Nasdaq 100 index. Bitcoin hovered below $87,000, with the fear and greed index in a neutral range. Traders are cautious ahead of the holidays, with key support at $85,000. A break below this could spark a sell-off. CoinGlass reported a 23% drop in Bitcoin’s price since early October, with no signs of a Christmas rally. ETHZilla sold $74.5 million in ETH, while BitMine builds Ethereum reserves.
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