Home CryptoCrypto Market News Today, December 23: Bitcoin is Bringing Christmas Spirit to Crypto | Looking at the Festive Weeks Through the Years, and What to Expect

Crypto Market News Today, December 23: Bitcoin is Bringing Christmas Spirit to Crypto | Looking at the Festive Weeks Through the Years, and What to Expect

by Adam Forsyth


Not just today, Bitcoin is always in the news headlines as the crypto market is cruising into Christmas week. While price action has been frustrating for weeks, some bullish signs are finally starting to line up.

A three-day bullish divergence between price and RSI has now been fully confirmed, a setup that previously flashed near the bottom. Although it’s not always a guarantee, historically, the same setup has never shown up randomly, either.

Another bullish catalyst is also shown in the Bitcoin crypto chart; it has just printed its fifth golden cross since October 2023.

Not just today, Bitcoin is always in the news headlines as the crypto market is cruising into Christmas week. But this time..

(source – Bitcoin Crypto Price, TradingView)

These are old-school technical signals we should always respect, just because of how often they show up before a strong few months of upward moves. Most crypto news today is still telling you to be cautious, but from a structural standpoint, the market is improving.

Is Santa Coming to Send Bitcoin and Crypto to the North Pole?

Bitcoin finishes the year in an unusual position. Price is still down by 6-7% year-to-date and remains about 30% below the October highs of $126,000. At the same time, US equities continue pushing toward record levels. This divergence is rare, even with the fact that crypto and Bitcoin don’t always move in sync with traditional markets.

ETF flows actually look ugly, too. November saw around $3.46 billion in Bitcoin ETF outflows, with IBIT accounting for more than $2 billion of that over several weeks. This panic selling after the October 10 flash crash is fueling this month’s slump. From a technical view, Bitcoin has slipped back toward late-November levels near $80,000, while $73,797 remains the key weekly level to watch for us in crypto. Holding above it keeps the current range intact.

Market Cap





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Crypto Christmas History, News, and What Comes Next after Today

Looking back, Bitcoin crypto has a mixed but generally positive relationship with Christmas. Over the past decade, holiday weeks ended green more often than not, helped by lighter liquidity and optimistic sentiment. However, bear-market years like 2018 and 2022 proved that seasonality doesn’t override trend.

In 2016, Bitcoin rallied into Christmas as crypto adoption accelerated, finishing the year with 125%. In 2020, holiday strength sent Bitcoin to a 302% yearly gain following the halving.

However, if Bitcoin were to close this Christmas at this level, this would be its 4th year-to-year Christmas drop after 2014, 2018, and 2022. And it is also something that has never appeared consecutively. So, if we can maintain $80,000 level this year, we might see $160,000 in 2026’s Christmas.

All in all, crypto feels closer to a transition year today, with prices stuck between support and resistance, and we are questioning whether the traditional four-year cycle is changing, as most news outlets would have us believe.

Golden crosses have resolved higher most of the time, but low holiday volume increases the risk of false moves. Though Bitcoin and crypto look like they are accumulating.

Remember, banks will be closed later this week for Christmas. Bitcoin and crypto never close.

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The post Crypto Market News Today, December 23: Bitcoin is Bringing Christmas Spirit to Crypto | Looking at the Festive Weeks Through the Years, and What to Expect appeared first on 99Bitcoins.





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