The highly-anticipated Santa Claus rally is nowhere to be seen as bitcoin continues to lose value by dropping below $94,000.

The altcoins are also mostly in the red, with XRP dumping by 6% and XLM following suit.

BTC Fails at Recovery

It hasnt been a particularly hopeful end of 2024 on a micro-scale. The asset began its painful decline on December 17 when its price stood above $108,000. In just a matter of three days, it had lost around $16,000 and dumped to $92,000.

The bulls intercepted the move and helped prevent a further drop below $90,000. In fact, BTC started recovering some ground and spiked toward $100,000 on a couple of occasions, but to no avail. The last such example was on December 26 when BTC touched that line but was quickly rejected once again.

The subsequent decline pushed it south hard, and the asset fell to $95,000 over the weekend. However, the landscape worsened in the past 24 hours and dropped further to $93,000. Despite bouncing off that level, for now, BTC is still over 1% down on the day.

Alicia BakeryCMO - A really good agencyDid you like this market update?

This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

Invalid email address Your privacy is guranteed.Thanks for subscribing, you will get your first report in the next hours! Its market capitalization has plummeted to under $1.860 trillion on CG, and its dominance over the alts stands at 54%.

Bitcoin/Price/Chart 30.12.2024. Source: TradingView

XRP Keeps Bleeding

Most altcoins are in the red once again today. The trend is led by XRP, which continues its downfall and is close to breaking below $2 now. If it dumps below that level, analysts foresee another massive decline toward $1.

XLM has also dropped hard from the larger-cap alts, losing nearly 5% of value and trading well below $0.35. BNB, SOL, DOGE, ADA, TRX, AVAX, LINK, TON, SUI, and many others are also in the red, albeit in a less painful manner.

The total crypto market cap has lost another $60 billion since yesterday and is down to $3.430 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.