Bitcoin Price Slips Below $88,000 as Holiday Season Thins Liquidity: Check Cryptocurrency Prices Today, DEC 24

Digital assets in the cryptocurrency market today are trading under pressure, with the Bitcoin price slipping below the $88,000 mark and most major altcoins also recording mild to sharp declines. The holiday season is here, and investor sentiment is also shifting accordingly as profit booking is on the rise, which has taken down the major digital assets in the market.

Bitcoin Price Today Falls Below $88,000

Bitcoin (BTC) price today is trading at $87,198.50, down 0.79% over the last 24 hours. On a short-term basis, Bitcoin has shown some recovery of 1.07%, but on a longer term, the price remains under pressure, declining 1.26%.

"Bitcoin is consolidating at the $87,300 mark as the holiday season thins liquidity. Traders are closely watching Friday's $23.6 billion Bitcoin options expiry, keeping volatility on the higher end. Additionally, the delayed third-quarter economic growth print also brought uncertainty in the market, creating a favourable environment for traders going short. That said, the options expiry is expected to clear a large amount of leverage from the system, often setting the stage for a directional move. For now, $90,000 remains the key upside hurdle, while the $85,500 zone continues to provide solid support." said Akshat Siddhant, Lead Quant Analyst, Mudrex.

Ethereum Price Today

Ethereum price today is trading at $2,939.91, down 1.45% in the last 24 hours. Investors are closely watching Ethereum's support near the $2,900 level.

Altcoin Market Today: BNB, XRP, and Solana Under Pressure

The altcoin market today showed mixed trends, with most large-cap tokens trading in the red:

• BNB price today at $839.44, down 1.76%, market cap $115.76 billion
• XRP price today at $1.86, down 1.52%, market cap $112.86 billion
• Solana (SOL) price today at $121.90, down 2.79%, market cap $68.70 billion
• Dogecoin (DOGE) price today is trading at $0.1280, down 2.94%, with a market cap of $21.55 billion.
• • The TRON (TRX) price today stands at $0.2833, down 0.29%, but showing relative strength with a 3.07% gain on a longer timeframe.

tomiNet Surges Sharply

In contrast to the broader market weakness, tomiNet (TOMI) emerged as a major gainer. The token is trading at $0.001218, up 9.29% in the last 24 hours. TOMI has recorded an extraordinary rally of over 3,900% in the short term, which is attracting strong speculative interest despite low trading volumes.

Crypto Market Outlook

Market experts say the crypto market today is going to remain in a consolidation phase since Bitcoin and Ethereum are trading lower.

"Bitcoin continues to trade within the consolidated phase as it is being held between $87,000 and $87,500. As a result, markets also remain accumulated within a range but face a small pullback as Ethereum slips below $3000." as per CoinDCX research team

CoinSwitch Markets Desk said "Low volume and thin liquidity amplified intraday swings, but buyers defended the lows. BTC continues to trade sideways, lagging broader markets as gold and metals hit record highs and U.S. equities edged up. Meanwhile, open interest in BTC and ETH perpetuals has declined materially, reducing leverage and increasing volatility risk ahead of a record options expiry on Deribit."