Christmas is over, and apparently retail is flush with cash. What are the unwashed spending their Xmas spoils on? Is the crypto market poised for a post-Santa rally?
- Christmas Crypto Market
- Market Up Post-Christmas
- Signs Of An Improving Crypto Market
Christmas Crypto Market Up
What did you spend your Christmas money this year? Looks like some people are longing the market with Santa’s money.
The overall market cap is up almost 3% in the last 24 hours. That’s a 14% improvement in the last 7 days.
Bitcoin is up about 2.5%. Not quite the candle everyone is hoping for from the biggest cryptocurrency in the world, but it’s ticking up. All eyes are on BTC in January.
Meanwhile, SushiSwap appears to be the biggest beneficiary of post-Christmas gifts. The DeFi protocol is up almost 20% in the last 24 hours and is now trading in the $9 USD range. The long-dormant project is still down from its $23 dollar high from back in March. However, it’s still up 276% on the year.
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Signs Of An Improving Market
The Fear & Greed Index is up to 40. That’s a significant improvement from last week when it was sitting at 25, and last month when it was sitting at 21. It’s still pretty low, indicating investors are still cautious, but it’s not a bad thing seeing it flash any kind of improvement.
Especially considering Bitcoin’s end-of-month performance. Many worried Bitcoin might touch the 30k range — won’t link to them, but trust they exist — but instead BTC only fell as low as 46,700 in the last 7 days.
That’s obviously down significantly from the November all-time high, however, BTC showed serious strength at the end of the month. Typically end of month sell pressure from contract expirations send Bitcoin spiraling, but that didn’t happen this time. Why? That’s unclear. But it’s something worth monitoring as we enter January.
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