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Bitcoin Price Drives Market Recovery

The current price of Bitcoin is $88,856.77. This shows a jump of 0.87% within the last 24 hours. Bitcoin temporarily crossed the $89,000 mark during the trading session. This indicates that the cryptocurrency retains its momentum. The market capitalization of Bitcoin stood at above $1.77 trillion. The daily trading volume surpassed $23.6 billion.

According to CoinSwitch Markets Desk, “BTC saw a bounce from the $85,000 support area, where dip buyers stepped in and short covering pushed price back toward $88,000–$89,000. Since then, BTC has been trading sideways, showing indecision near resistance. Sellers are defending higher levels, while buyers continue to protect dips, pointing to a consolidation phase. Meanwhile, around $24B worth of BTC options are set to expire on December 26.”

CoinSwitch analysts further explained, “The large expiry could keep BTC range-bound and volatile in the near term, with the possibility of a directional move more likely after settlement. A clean break above $90,000 could open room for upside, while a pullback to $87,000 may lead to a retest of the $85,000 zone.”

Ethereum Price Shatters $3,000 Barrier

The price of Ethereum has risen to $3,038.37, recording a strong 2.15% increase in the last 24 hours. This development has seen the market capitalization of the world’s second-largest cryptocurrency increase to $366.7 billion, with trading volumes amounting to $14.3 billion. Breaking through the psychological barrier of $3,000, the ripple effects of this development have been experienced positively within the DeFi and Layer 1 sectors.

Crypto Prices Today: Top Altcoin Performance

Most altcoins are trading in green. Here’s a detailed breakdown:

BNB is currently trading at $858.78 with an increase of 1.22% within the last 24 hours. The price of Solana has surged to $126.48, registering a gain of 1.06% in a day. TRON (TRX) is currently trading at $0.2868 with an increase of 1.25% over the last day with a market cap of $ 27.1 billion. Dogecoin price is trading at $0.1324, reflecting a 1.01% growth.

The current price of XRP is $1.92, having shown a minor reduction of 0.11% today. The market capitalization of XRP is $116.4 billion. Cardano’s (ADA) token was trading in red at $0.3669, down 0.30% on a 24-hour basis. The crypto retains a market value of $13.1 billion.

Tether (USDT) and USDC are flat at $1 peg with a market cap of $77.1 billion and are ranked the sixth largest cryptocurrency.