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The cryptocurrency market has shown an overall recovery despite the effects of the Christmas holiday. The global market capitalization increased by 3.50%, reaching $3.44 trillion. Although the total trading volume fell by 16% in the last 24 hours, the Crypto Fear and Greed Index remained steady at 73, indicating a sentiment of “greed” in the market.

Signals of Recovery in Bitcoin and Altcoins

Following the Christmas holiday, Bitcoin (BTC) stabilized above $98,000. After briefly touching the $99,000 mark, BTC experienced a slight pullback while leading the overall market momentum. Ethereum (ETH) increased its price by 3%, reaching $3,490, capturing the attention of investors. Popular altcoins like XRP and Solana (SOL) also showed signs of recovery, suggesting that the market is preparing for a new wave of increases after investors completed profit-taking.

Meme coins benefited from this positive atmosphere as well. Dogecoin (DOGE) gained 3% over the past 24 hours, while Shiba Inu (SHIB) rose by 4%. Investors are attempting to leverage the volatile nature of these currencies.

Winners and ETF Movements

FARTCOIN, Pudgy Penguins (PENGU), and Movement (MOVE) were among the top-performing digital assets. FARTCOIN saw a 72% increase in the last 24 hours. PENGU rose by 28%, while MOVE gained 18%, with notable increases in their market values and trading volumes.

The ETF market presents a complex picture, with continued net outflows in Bitcoin ETFs. According to SoSoValue, the net outflow amount reached $338.4 million on Tuesday. BlackRock’s Bitcoin ETF (IBIT) recorded the largest outflow at $188.7 million, with similar outflows observed in Fidelity and ARK ETFs. Conversely, Ethereum ETFs have shown net inflows, with BlackRock’s iShares Ethereum ETF (ETHA) supporting the market with a net inflow of $43.9 million.

In the cryptocurrency mining sector, Russia’s new decisions have drawn attention. The country has banned cryptocurrency mining in six regions until 2031. This move has created uncertainty for market players, and the effects of regulations are being closely monitored. Binance and its founder, Changpeng Zhao, have sought to dismiss a lawsuit filed by the U.S. SEC.

Overall, there is an expectation that the market will enter a rising trend after Christmas. Investors are anticipating new record levels for Bitcoin, Ethereum, and other major altcoins. It is advised to capitalize on the opportunities presented by the market during this period.

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