As the cryptocurrency market bounced back on Tuesday, several alternative cryptocurrencies (altcoins) showed impressive gains while Bitcoin remained relatively flat.
Ethereum (ETH) led the charge among major altcoins with a 4% increase, reaching $3,435 in the past 24 hours. Solana (SOL) demonstrated even stronger performance with a 7% surge to $195, while XRP posted a solid 5.5% gain to reach $2.29.
Meanwhile, Bitcoin traded sideways at approximately $95,000, showing a minimal 0.2% increase over the same period. The leading cryptocurrency has experienced an 11% decline over the past week, falling from its recent peak of around $108,000.
The market movements came as MicroStrategy, which recently joined the Nasdaq 100 Index, announced another major Bitcoin acquisition. The company purchased 5,262 BTC for approximately $561 million at an average price of $106,662 per bitcoin, just before the cryptocurrency's price decline.
Trading activity remained intense, with nearly 96,000 traders facing liquidations totaling $270 million in the past 24 hours. Bitcoin-related liquidations accounted for $12.98 million, while Ethereum saw $8.93 million in positions closed.
The overall cryptocurrency market capitalization slightly decreased by 0.7% to $3.49 trillion, reflecting the mixed performance across different digital assets during this holiday season rally.
This market activity suggests investors may be rotating capital from Bitcoin into alternative cryptocurrencies as they seek higher returns in the final weeks of the year.