This weekend has failed to deliver the relief retail traders hoped for, bringing more retracements and the emergence of bearish patterns. The highly anticipated “Santa rally” seems increasingly out of reach as macroeconomic uncertainty weighs heavily on the market.
Several major cryptocurrencies are underperforming today, with notable losers including SUI ($SUI), down 6.5% after peaking at its all-time high of $4.89 last Friday, along with PEPE ($PEPE), BONK ($BONK), and Polkadot ($DOT), all dropping roughly 6%. Adding to the downturn, Cardano ($ADA), Fantom ($FTM), and Hedera ($HBAR – click for full insight) have each fallen by over 5%, reflecting a broad retreat across the altcoin market.
The global crypto market cap currently sits at $3.6 trillion, marking a 1.2% decline in the past 24 hours, while trading volume has dropped sharply by 23.93% (typical for Saturday). Bitcoin‘s dominance has increased slightly to 55.74%, as investors shift toward safer bets amid the growing uncertainty. Meanwhile, the Altcoin Season Index on CoinMarketCapsuggests Bitcoin remains firmly in control of the market, leaving altcoins struggling to gain traction.
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Author: Michal D. Ciesla
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