Bitcoin (BTC) rally fails even on Christmas

As festive lights sparkle around the world, Bitcoin (BTC) is having a less celebratory Christmas.

The price of Bitcoin is currently sitting at $43,161.88 after falling 1.2%.

The recent plunge prompted recent volatility warnings.

This year’s Christmas was a stark contrast to the usual bullish enthusiasm usually expected in cryptocurrency markets during the holiday season.

Typically, global stock markets experience a ‘Santa Claus’ rally during the Christmas period. However, Bitcoin broke away from this trend in 2023.

If so, a belated Christmas present for Bitcoin bulls may be in store.

Recent developments point to a potential rise in the future price of Bitcoin, with major investment firms such as Blackrock, Ark, and Grayscale engaging in discussions with the U.S. Securities and Exchange Commission (SEC) regarding a Bitcoin ETF. It suggests.

These discussions could lead to a significant breakthrough for Bitcoin ETFs, expanding market access and potentially reinvigorating Bitcoin’s appeal to a broader range of investors.

Despite the current downturn, these ongoing negotiations and the possibility of the SEC approving a spot Bitcoin ETF in the near future provide optimistic signs for a recovery in Bitcoin’s value.