The current trade price of Bitcoin is $95,427 & this price level is 7% down over the last 24 hours period.
Notably, today the highest & lowest trade price of Bitcoin was $102,877 & $92,290, which means Bitcoin saw more than -10%+ dumps in only 24 hours.
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A crypto analyst shared his analysis-based opinion & said that the latest correction in Bitcoin price is very usual and it happens in every bull run.
In the same time period, Ethereum crashed nearly 15%, which is a significant dump for this second top-ranked Cryptocurrency, amid the bull run in the Crypto sector.
Already Yesterday, we reported that panic among the Bitcoin traders came into play because of a non-Bitcoin-friendly loan deal between a Bitcoin bull country El Salvador & International Monetary Fund (IMF).
Notably, the El Salvador government purchased $1 million worth of Bitcoins today, despite being in a loan deal with the IMF body.
Christmas Eve & New Year
The start of this week with the Bitcoin dump hinted that a big rally in the trade price of Bitcoin has been planned just before Christmas.
Some crypto trading experts claim that it is a good sign that Bitcoin will show strong pump momentum this month, especially on the occasion of Christmas Eve.
Also, we know that the new year heading & the past several years are proof that January always comes with a bull momentum for Bitcoin. It is expected that at least a 20% pump in the trade price of Bitcoin will take place.
More capital inflow in Bitcoin & Ethereum market
Today, the United States Securities and Exchange Commission (SEC) approved the first spot Bitcoin and Ethereum combo ETFs from Hashdex and Franklin Templeton.
It means investors will get exposure to Ethereum & Bitcoin simultaneously with a single ETF product.
Read also: Top big companies buy $2 billion Bitcoin but still price crashes: Here is the reason?
Bitcoin Plunges 10% in One Day – Is This the Start of a Massive Rally?
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