The US stock market is strong during the Christmas season, while the Crypto Assets market remains in a Sideways trend—investment sentiment is in extreme panic.

Source: DecenterKorea Original Title: Despite the Santa Rally in the US stock market, cryptocurrencies remain stagnant···Investor sentiment is at an 'extreme fear' level [Decenter Market Report] Original Link: https://www.decenter.kr/NewsView/2H1UBAZ2MQ/GZ03

On the 23rd, the Bitcoin (BTC) on domestic cryptocurrency exchanges rose by 0.22% compared to the previous day, quoted at 1,320,820,000 Korean Won.

As the end of the year approaches, the New York stock market enters the “Christmas rally,” while the cryptocurrency market continues its sideways trend. Some experts point out that the Christmas rally effect for Bitcoin has weakened recently, and a significant rise is unlikely to occur by the year's end.

According to data from the global cryptocurrency tracking website CoinMarketCap on the 23rd, at 8:55 AM, BTC fell by 0.12% compared to 24 hours ago, trading at $88,495.58. Ethereum (ETH) rose by 0.12% to $3,006.57, Binance Coin (BNB) fell by 0.07% to $857.52, XRP fell by 1.05% to $1.902, and Solana (SOL) fell by 0.34% to $125.77.

The domestic market shows a similar trend. The BTC on domestic cryptocurrency exchanges has risen by 0.22% compared to the previous day, priced at 132,082,000 KRW. ETH increased by 0.45% to 4,487,000 KRW, while XRP fell by 0.63% to 2,840 KRW.

The three major indexes of the New York stock market rose together on the same day, boosting market expectations for the year-end Christmas rally, while the cryptocurrency market has fallen into a long-term sideways trend. Some views suggest that the Christmas rally effect in the cryptocurrency market may not be as strong as in previous years.

Cryptocurrency analyst Ardi stated: “By analyzing the BTC Christmas market range over the past 5 years, we found that the overall return rate has gradually decreased, with selling pressure in a dominant position. Apart from the case in 2020 when Bitcoin surged by 34.5% during the Christmas market, the return rates in the year-end range have gradually weakened in recent years.”

The cryptocurrency investment sentiment remains in an “extreme fear” state. The Fear and Greed Index from cryptocurrency data analysis firm Alternative.me rose by 5 percentage points to 25 points compared to the previous day. The closer the index is to 0, the more the investment sentiment is shrunk, while the closer it is to 100, the more overheated the market.