On Thursday, December 24, the largest cryptocurrency by market cap dips once again below $23,000. As of press time, bitcoin (EXANTE: Bitcoin) is trading at $23,078 (-1.79%).
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Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum also declined by 6% to $578.78. XRP continues its notorious fall below the $0.30 mark down to $0.25 (-32.83%).
FxPro's team of analysts say the altcoin market began a wide correction, as a result of which the total capitalization sank by $32 billion overnight.
"The XRP case hit general market sentiment heavily as participants realized how fragile the prospects for any cryptocurrency could be if regulators decide to go after," the analysts highlight.
The total market capitalization is below $620 billion. Meanwhile, SkyBridge Capital, a global alternative investments firm, invested $25 million in bitcoin through its new fund as the firm realized it needed to create a new client-friendly product.
The assets have already been moved and the company has launched a full node on the Bitcoin network. Fidelity Digital Assets provided technical support and custody services. The minimum investment amount is $50,000.
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