Christmas presents boost altcoin gains with MOVE, BGB, and ZEC taking the lead
Cryptocurrencies, including Movement, Bitget Token, and Zcash, experienced significant price rallies on December 25, resulting in massive gains. Bitcoin (BTC) showed some recovery after trading near $92,000 on December 23, with the gains extending to over $98,000 and affecting certain altcoins as well. Several factors and catalysts contributed to the surge, leading to spikes of more than 30% in some altcoins. Among the top coins, Movement (MOVE), Bitget Token (BGB), and Zcash (ZEC) experienced surges of over 31%, 18%, and 9% respectively. These altcoins outperformed the 100 largest cryptocurrencies by market cap. Despite a 2% dip in 24 hours, the overall market cap of altcoins remained above $3.5 trillion. The daily trading volume of the crypto market stood at $156 billion, with BTC dominance at 54.5% and the crypto greed & fear index at 62, indicating a bullish sentiment and potential return to higher risk appetite. Michael Saylor, a Bitcoin bull and the mastermind behind the MicroStrategy plan, expressed his optimism. Analysts at QCP Capital summarized the market outlook, suggesting that altcoins could rally in the coming weeks due to capital rotation. If BTC breaks through the $100,000 mark, volatility could increase, and altcoins may gain more attention. Tokens like MOVE, ZEC, and BGB, along with other standout performers such as Fartcoin, Solana protocol Raydium, and Virtuals Protocol, were the highlights of the day. On the flip side, the top losers in the past 24 hours were Hyperliquid, Stellar, and Celestia.
