Bitcoin reached a new all-time high of $108,268 but has since retreated to $104,018, declining by 2.44%. The market displayed mixed signals, with PENGU gaining over 500% while other altcoins like Ethereum fell. The overall cryptocurrency market cap is $3.63 trillion, with the sentiment reflecting ‘Extreme Greed.’

On December 18th, 2024, the cryptocurrency market is experiencing a slight retreat, with Bitcoin pricing cooling from its recent all-time high (ATH) of $108,268.45 to $104,018.21, reflecting a decrease of 2.44%. The surge to a new ATH was stimulated by significant institutional activity, notably MicroStrategy’s substantial acquisition of 15,350 BTC valued at $1.5 billion. Despite Bitcoin’s retracement, the market overall has mirrored optimism, as evidenced by the Fear & Greed Index, which remains at a notable “Extreme Greed” level.

The cryptocurrency market has been notably tumultuous and dynamic, particularly in the latter part of 2024. The unprecedented rise in Bitcoin’s value to over $108,000 has brought investor sentiment into sharp focus, especially following institutional endorsements. However, fluctuations in price are common, and currently, the overall crypto market is similarly experiencing minor declines alongside Bitcoin’s peak. The market capitalization now stands at approximately $3.63 trillion, with a 2.81% fall in the total market value.

In summary, Bitcoin’s price has witnessed a noteworthy decline after reaching an all-time high, although sentiment in the market remains largely positive. Altcoins are showing mixed performance, with PENGU witnessing significant gains, while others like Ethereum and Solana have experienced drops. The ongoing state of ‘Extreme Greed’ indicates strong investor confidence, even amid minor pullbacks, suggesting that future movements may remain volatile as market dynamics evolve.

Original Source: coinpedia.org

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