BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE

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Bitcoin (Bitcoin) The continued decline in December indicates that traders may lock in gains before the end of the year. The lack of a Santa Claus rebound in the US stock market indicates that risk aversion is prevailing due to the uncertainty surrounding the spread of COVID-19 omicron variants in many regions of the world.

Even after the sharp drop in the price of Bitcoin, the demand from institutional investors is still tepid. The data shows that the largest institutional Bitcoin product Grayscale Bitcoin Trust (GBTC) Deal with a discount of more than 20%.

Daily cryptocurrency market performance. source: Currency 360

Senior trader Peter Brandt said: “A lot of panic and surrender” usually heralds the bottom In Bitcoin, this has not happened during the current decline from all-time highs. This may imply that the “real” surrender has not yet occurred.

Can Bitcoin and most major altcoins continue to fall in the next few days, or will Santa’s rally come to the rescue? Let’s study the charts of the top 10 cryptocurrencies to find out.