Bitcoin Hovers Near $88,000 After Brief $90,000 Recovery; Ethereum, Ripple Shift Slightly
The New York stock market, ahead of the year-end holiday season, has begun a ‘Santa rally’ driven by bargain-hunting in tech stocks, while the virtual asset market remains in a wait-and-see mode.
According to CoinMarketCap, a global cryptocurrency market tracking site, Bitcoin was trading at $88,511 as of 8:20 a.m. on the 23rd, down 0.07% from the same time the previous day. Bitcoin briefly recovered to the $90,000 mark the previous day but failed to sustain its upward momentum, settling back in the $88,000 range.
Ethereum, the second-largest by market cap, rose 0.12% to $3,006. Ripple fell 0.97% to $1.90, Solana dropped 0.18% to $125, and Dogecoin, a leading meme coin, gained 0.69% to $0.1322.
Despite the U.S. stock market’s Santa rally, the virtual asset market continues to hover without finding momentum. Strategy, known as the world’s largest Bitcoin holder, reportedly paused additional Bitcoin purchases amid the recent price downturn.
